Green Signals

Dear All Traders

Gold

Gold closed up on Wednesday and made its intraday high of US$1296.36/ounce a before setting intraday low of US$1284.06/ounce. Gold went up by 0.63% at US$1290.89/ounce.

Spot gold is expected to revisit its Jan. 27 high of $1,278.01 per ounce, as it could have resumed its uptrend that rose from the Dec. 31 low of $1,184.50. The resumption of the uptrend has been clearly indicated by the strong recovery of the price from the Jan. 31 low of $1,238.14. A small double-bottom that formed between Jan. 30 and Jan. 31 points a target at $1,272. Should gold be able to climb to $1,272, it will be more likely to extend its gain to $1,278. A drop to $1,250 will suggest the extension of the short downtrend that developed from $1,278.01, towards $1,238.14.
Trading Strategy:
Buy on dips at 1278-1270 with strict stop loss below 1268 4-hourly closing; targeting 1286-1294 and 1300-1309. Breakage below 1268 will call for 1260-1252. Sell below 1289-1300; targeting 1278-1274 and 1268-1260, upside breakage of 1309 will lead to 1320-1330.

Silver

Silver closed up on Wednesday made its intraday high of US$20.40/ounce after setting intraday low of US$20.08/ounce. Silver settled 0.0494% up at US$20.23/ounce.
On daily charts, silver is sustaining below 100DMA (20.64), breakage above 20.66 will lead to 21.05-21.40 and sustaining above 50DMA (19.77) which is an immediate support. MACD is above the zero line and histogram are increasing will bring bullish stance in the upcoming sessions. RSI is in neutral region and indicating optimistic stance. The Stochastic Oscillator has entered in overbought territory and still giving positive crossover, will show upside for the intraday trade.

Residency below 20.35 – 20.60 keep possibility for weakness towards 19.28 and 18.46.Sell on strength and it would go bullish above 20.60. Silver's bullish momentum is improving within its medium-term horizontal range between 18.90 and 20.52. The declining channel has been breached, calling for a new test of the key resistance at 20.52. An hourly support can be found at 19.64.
Trading Strategy:
Sell on Strength at 20.30-20.60 with stop above 20.65; targeting 20.05-19.90 and 19.70-19.10; upside breakout of 20.65 will open the way to 21.05-21.55 and 22.40. Buyers can buy above 19.10-19.70 targeting 20.05-20.40 and 20.60-20.95 with risk below 18.70 hourly closing

Oil
Crude futures (Mar 2014) on Wednesday made an intra-day high of US$101.36/ bbl and made an intraday low of US$100.03/bbl and settled down by 0.159% at US$100.29/bbl on session close

On daily charts, oil is sustaining above its 200DMA i.e 99.50, which is a very strong support and breakage above will call to 100.70-101.30. MACD is now above zero line and histograms are in increasing mode will bring bullish stance in the upcoming sessions. The Stochastic Oscillator is now in overbought region and still giving positive crossover for confirmation of bullish stance; while the RSI is in overbought region and indicating to upward trend.

U.S. oil may end its current correction around support at $96 per barrel and then rise towards $97.12. The correction was caused after meeting resistance at $98.51, the 76.4 percent Fibonacci retracement on the fall from the Dec. 27 high of $100.75 to the Jan. 9 low of $91.24. The 61.8 percent retracement at $97.12 failed to stop the correction, making the 50 percent retracement at $96 likely to end it. A break below $96, however, will open the way towards $94.87, the 38.2 percent retracement.
Trading Strategy:
Sell below 100.50-101.70; targeting 99.50-98.50 and 97.50-96.40; upside breakage of 101.70 will lead to 102.50. Buy above 99.30-98.50, targeting 100.30-100.70 and 101.70-102.50; stop loss 4 hour below 97.00. Breakage below 97.00 will call for 96.40-95.30 and 94.70-94.20.

Kind Regard's

Please Follow my Trading Strategy

Sell below 1260-1272; targeting 1250-1244 and 1238-1224, upside breakage of 1278 will lead to 1284-1290 and 1300. Buy on dips at 1238-1250 with strict stop loss below 1235 4-hourly closing; targeting 1262-1268 and 1278-1284. Breakage below 1235 will call for 1214-1207.

Warm regards
Have a nice Trade

Gold

The metal inched higher again stabilizing above 38.2% correction at 1250.85, whereas the bullish harmonic AB=CD Pattern's effect returned. By stabilizing above the referred to level, the stop-loss of the previous report recommendation was triggered; meanwhile we cannot currently bet on extending the upside move as 1272.00 levels confirmed its strength earlier; therefore Risk/Rewards ratio is currently inappropriate.
Breaking 1236.50 will trigger extending bearishness, but breaching 1272.00 with a daily closing above it will trigger a new bullish wave.
Support: 1254.00, 1250.80, 1248.00, 1244.50, 1241.00
Resistance: 1256.20, 1262.00, 1266.55, 1272.00, 1277.90
Recommendation Based on the above, we prefer to remain neutral. For the intraday trader willing ot take the risk, buy the metal above 1254.00 targeting 1262.00 and 1266.00 then 1272.00 with stop-loss below 1248.00, whereas stabilizing above 1250.85 is intraday positive accoreding to technical harmonic analysis.

Have A safe Trade