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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 - 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

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

Gold declined to test the key support at the Weekly Cloud top, with the lows getting within 3 US$ of that support level twice before rebounding. The price closed right on the 38.20% Fibonacci retracem...

21 May 2019

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

​Late March and early April turned to be bearish with gold unable to challenge the closing levels of March and April of 2018, followed by a rapid break-down in the price, as fund flows left gold and...

24 April 2019

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

After retracing from the February highs to test the 38.20 retracement of the September-February rally, a level below which gold could not close, the price has recovered to emerge from the Daily Ichimo...

26 March 2019

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

The rally continues, helped along by some weak US retail sales data that supports the case for the pause in Fed tightening. Overnight, President Trump’s comments about the CNY sparked a move abo...

21 February 2019

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

One consequence of the US government shut-down is that the CFTC reports that I so love to bore on about have been suspended, so you can avoid that at least for this month.
Gold has experienced a...

24 January 2019

Monthly Technical and Precious Metals Positioning Report - Gold - December 2018

Gold has experienced a sustained period of short-covering as Managed Money shorts on the CME unwound 4.95 million FTozs in the month since November the 13th, a process which has taken gold above the i...

18 December 2018

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