9 September, 2015
Prior to the Fed meeting on 17 September, opinions of economists on when to expect the Fed to hike its interest rates are split. Nevertheless, the pressure on prices of precious metals increased in the last two days amid growing US and Asian stock markets and strengthening Dollar. For example, December gold futures on COMEX fell by 40 cents to $1121 per troy ounce.
Today pay attention to the data form the US and to the interest rate decision in Canada.
Support and resistance
The price broke down the level of 1135.00 (EMA50 on the daily chart) and continues falling along the downward channel.
The pair will tend to fall as long as the price remains below the levels of 1149.50, 1162.00, while the breakdown of the level of 1114.50 would allow the pair to fall to year lows at 1085.00. However, the breakout of the level of 1176.00 (EMA200 on the daily chart) can reverse the trend and let the pair grow to 1185.25 (23.6% Fibonacci).
OsMA and Stochastic on the daily chart give sell signals, on the 4-hour chart they are turning to sales as well.
Support levels: 1114.50, 1103.00.
Resistance levels: 1127.00, 1135.00, 1140.00, 1149.50.
Open short positions from the current levels and from 1127.00 with targets at 1114.50, 1103.00, 1085.00 and stop-loss at 1135.00.
Long positions are not considered at present.
Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...
On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...
Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...
Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...
The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...
Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...
The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...
Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...
On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...
|8||Fort Financial Services||67%|