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Technical Analysis

Each month, ABC Bullion's Global General Manager Nick Frappell provides a technical analysis of the precious metals markets with short and medium term price targets and support and resistance levels utilising Fibonacci levels, Ichimoku Clouds, Point and Figure charts, COMEX trader positioning and Volume-Weighted Average prices. Nick holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

 

Monthly Technical and Precious Metals Positioning Report - Gold - April 2020

As Coronavirus forced the shut-down of a number of large refineries, a shudder of fear passed through the Comex shorts as concerns rose over the ability to deliver into April and subsequ...

28 April 2020

Monthly Technical and Precious Metals Positioning Report - Gold - March 2020

The sudden increase in European COVD-19 cases and deaths, particular in Italy and a wave of lock-downs across the globe propelled equities downwards, and helped push crude lower, forcing gold down as ...

30 March 2020

Monthly Technical and Precious Metals Positioning Report - Gold - February 2020

How easy are financial conditions? ‘This easy’ – much easier than they were in the run-up to the GFC, another indicator that helps contextualise the floaty nature of almost everythin...

20 February 2020

Monthly Technical and Precious Metals Positioning Report - Gold - January 2020

Gold launches into the New Year after being galvanised by the drone killing of Qasem Soleimani in early January. CME gold longs have risen to the highest level since September 2019. Uncertainty in the...

23 January 2020

Monthly Technical and Precious Metals Positioning Report - Gold - December 2019

Gold bullish medium term. Early December Managed money longs 21.23 million Tozs, shorts slightly up at 2.93 million.  Support levels at US$1445 and US$1413. Targets in 2020 US$1590. Scope for ris...

19 December 2019

Monthly Technical and Precious Metals Positioning Report - Gold - November 2019

Gold dropped to a low of US$1,445.70 on the 12th of November, touching the 38.20 pct. Fibonacci retracement before recovering slightly. The 7.00 pct. move down from the US$1,557.10 high looks correcti...

20 November 2019

Monthly Technical and Precious Metals Positioning Report - Gold - October 2019

Gold positive on continued easy—money policies, range-bound within daily Ichimoku Cloud. MM longs reduced to 21.832 million,. Support at US$1446 and US$1,412. Above S$1,477 gold looks as if it c...

01 November 2019

Monthly Technical and Precious Metals Positioning Report - Gold - September 2019

Gold made a high in September of US$1,557.11, before a trio of weeks where the price closed near the lows.  The Managed Money long position declined by 9.7% in the week of 03-10 September (2.57 m...

20 September 2019

Monthly Technical and Precious Metals Positioning Report - Gold - August 2019

Gold had an explosive move since the last report, hitting US$1,535. John Williams, the President of the New York Fed commented on the 19th of July that central banks need to take ‘swift action&r...

22 August 2019

​Monthly Technical and Precious Metals Positioning Report - Gold - July 2019

After breaking out of the rectangle pattern, gold quickly hit the expected target, overshooting by about 4-5 US$. Subsequent to that move, gold is consolidating, but looks like resolving higher with t...

18 July 2019

Monthly Technical and Precious Metals Positioning Report - Gold - June 2019

Finding support repeatedly at the August-February 38.20% Fibonacci retracement or thereabouts, (US$1,276-ish) gold rallied hard to test the 2018 high by the 14th of June. Although a fresh high was mad...

19 June 2019

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