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Ikon's Daily Market Analysis (December)


Ajawed

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05-12-2012

Gold (spot) down on Tuesday made its intraday low of US$1691.12/ ounce after setting intraday high of US$1717.26/ounce. Gold settled down by 1.126% at US$1697.03/ounce.

 

Silver (spot) closed down on Tuesday made its intraday low of US$32.68/ ounce after setting intraday high of US$33.66/ounce. Silver settled down by 2.14% at US$33.91/ounce.

 

Crude futures (October 2012) on Tuesday made an intra‐day high of US$89.16/bbl and made an intraday low of US$87.55/bbl and settled the day down by 0.607% at US$88.38/bbl on session close.

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3045/EUR and made an intraday high of US$1.3107/EUR and settled the day 0.306% above at US$1.3092/EUR on session close.

 

GBP/USD on Tuesday made an intra‐day low of US$1.6085/GBP and made an intraday high of US$1.6129/GBP and settled the day down by 0.068% at US$1.6100/GBP on session close.

 

USD/JPY on Tuesday an intra‐day low of JPY81.712/USD and made an intraday high of JPY 82.268/USD and settled the day 0.425% below at JPY81.888/USD on session close.

 

To get more information visit: http://www.ikonmarkets.com/daily-reports/2012/12/05/

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6th December 2012

 

Gold (spot) down on Wednesday made its intraday low of US$1684.54/ ounce after setting intraday high of US$1706.69/ounce. Gold settled down by 0.167% at US$1693.44/ounce.

 

Silver (spot) closed up on Wednesday made its intraday low of US$32.51/ ounce after setting intraday high of US$33.22/ounce. Silver settled 0.060% above at US$33.86/ounce.

 

Crude futures (October 2012) on Wednesday made an intra‐day high of US$89.03/bbl and made an intraday low of US$87.45/bbl and settled the day down by 0.633% at US$87.88/bbl on session close.

 

To get analysis on EUR/USD , GBP/USD & USD/JPY visit : http://www.ikonmarkets.com/daily-reports/2012/12/06/

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7th December 2012

 

EUR/USD on Thursday made an intra‐day low of US$ 1.2968/EUR and made an intraday high of US$1.3085/EUR and settled the day 0.727% below at US$1.2968/EUR on session close.

 

GBP/USD on Thursday made an intra‐day low of US$1.6038/GBP and made an intraday high of US$1.6127/GBP and settled the day down by 0.298% at US$1.6047/GBP on session close.

 

USD/JPY on Thursday an intra‐day low of JPY82.193/USD and made an intraday high of JPY 82.609/USD and settled the day 0.069% below at JPY82.400/USD on session close.

 

To know about Gold – XAU, Silver – XAG, Oil – WTI visit Ikon Markets Today’s Report : http://www.ikonmarkets.com/daily-reports/2012/12/07/

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10th December 2012

 

Gold (spot) up on Friday made its intraday high of US$1705.37/ ounce after setting intraday low of US$1683.62/ounce. Gold settled up by 0.286% at US$1704.03/ounce.

 

Silver (spot) closed up on Friday made its intraday high of US$33.25/ ounce after setting intraday low of US$32.60/ounce. Silver settled 0.121% above at US$33.02/ounce.

 

Crude futures (October 2012) on Friday made an intra‐day high of US$86.88/bbl and made an intraday low of US$85.76/bbl and settled the day down by 0.405% at US$85.99/bbl on session close.

 

EUR/USD on Friday made an intra‐day low of US$ 1.2875/EUR and made an intraday high of US$1.2973/EUR and settled the day 0.331% below at US$1.2924/EUR on session close.

 

GBP/USD on Friday made an intra‐day low of US$1.6001/GBP and made an intraday high of US$1.6060/GBP and settled the day down by 0.093% at US$1.6032/GBP on session close.

 

USD/JPY on Friday an intra‐day low of JPY82.167/USD and made an intraday high of JPY 82.821/USD and settled the day 0.103% below at JPY82.479/USD on session close.

 

To get graphical analysis visit: http://ikonmarkets.com/daily-reports/2012/12/10/

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http://ikonmarkets.com/daily-reports/2012/12/11/

December 11, 2012

 

Gold (spot) up on Monday made its intraday high of US$1717.20/ ounce after setting intraday low of US$1702.70/ounce. Gold settled up by 0.469% at US$1711.40/ounce.

 

Technicals in Focus:

In daily charts, prices are sustaining below 50DMA (1730) level become immediate resistance level for gold. MACD is now below zero line and histogram are also in decreasing mode will bring more bearish stance in the upcoming sessions. RSI is in neutral approaching overbought region but still indicating to buy. The Stochastic Oscillator has entered in oversold territory and also gave positive crossover to confirm bullish stance.

 

Recover through 1707.33 faced supply around 1717 yesterday. The near-term theme remains negative below the last reaction high of 1754.46. Next levels to aim below 1692.77 would be 1678.21 and 1660.19. Overall focus is set at 1631. Nearby resistance level resides around 1725.84. Sell in 1717.57 – 1725.84, with risk above 1754.46.

 

To get Technical analysis of Silver, Oil, EUR, GBP & USD visit: http://ikonmarkets.com/daily-reports/2012/12/11/

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13th December 2012

 

Gold (spot) up on Wednesday made its intraday high of US$1723.3/ ounce after setting intraday low of US$1707.1/ounce. Gold settled down by -0.023% at US$1708.8/ounce.

 

Silver (spot) closed up on Wednesday made its intraday high of US$33.79/ ounce after setting intraday low of US$32.92/ounce. Silver settled 1.18% above at US$33.34/ounce.

 

Crude futures (January 2012) on Wednesday made an intra‐day high of US$87.65/bbl and made an intraday low of US$87.65/bbl and settled the day up 1.24%at US$85.64/bbl on session close.

 

To get Graphical Analysis visit: http://ikonmarkets.com/daily-reports/2012/12/13/

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Forex Analysis By Ikon Markets 14-12-2012

 

December 14, 2012

 

Silver (spot) closed up on Thursday made its intraday high of US$33.35/ ounce after setting intraday low of US$32.21/ounce. Silver settled 0.234% below at US$32.55/ounce.

 

Technical in Focus:

In daily charts, silver is sustaining above 50DMA (33.05), breakage below 33.05 will lead to 32.90-32.50. MACD is now above the zero line and histogram are also in increasing mode will bring bearish stance in the upcoming sessions. RSI is entering in neutral region and is indicating bullish stance. The Stochastic Oscillator is in oversold territory but still giving negative crossover to confirm bearish stance for today.

Minor consolidation is underway around the 50-MA (32.94) .We prefer to stick to the negative outlook below 34.38. Next levels to focus below 32.58 would be 32.03 and 31.47. Nearby resistance levels reside around 33.27 and 34.38. Sell in 33.27 – 33.81 with risk above 34.38.

 

To get technical analysis of Gold, Oil, EUR, GBP & USD visit: http://ikonmarkets.com/daily-reports/2012/12/14/ or download today’s report by Ikon Markets.

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December 17, 2012

 

Gold (spot) down on Friday made its intraday high of US$1700.4/ ounce after setting intraday low of US$1693.2/ounce. Gold settled down by 0.053% at US$1,695.7/ounce.

 

Silver (spot) closed down on Friday made its intraday high of US$32.73/ ounce after setting intraday low of US$32.18/ounce. Silver settled 0.921% below at US$32.26/ounce.

 

Crude futures (January 2012) on Friday made an intra‐day high of US$86.88/bbl and made an intraday low of US$86.03/bbl and settled the day down by 0.918% at US$86.84/bbl on session close.

 

EUR/USD on Friday made an intra‐day low of US$ 1.3065/EUR and made an intraday high of US$1.3171/EUR and settled the day 0.066% above at US$1.3161/EUR on session close.

 

GBP/USD on Friday made an intra‐day low of US$1.6102/GBP and made an intraday high of US$1.6175/GBP and settled the day up by 0.341% at US$1.6166/GBP on session close.

 

USD/JPY on Friday an intra‐day low of JPY83.949/USD and made an intraday high of JPY 83.661/USD and settled the day 0.214% below at JPY83.482/USD on session close.

 

To get technical analysis of Gold, Silver, Oil, EUR, GBP & USD visit: http://www.ikonmarkets.com/daily-reports/2012/12/17/

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December 18’2012

 

Oil - WTI

Crude futures (January 2012) on Monday made an intra‐day high of US$87.67/bbl and made an intraday low of US$86.46/bbl and settled the day up by 0.702% at US$87.46/bbl on session close.

 

Technical in Focus:

In daily charts, oil is sustaining below its 100DMA i.e 91.07, which is a very strong resistance and breakage above will lead to 91.70-92.80. MACD is above zero line and histograms are in increasing mode will bring bullish stance in the upcoming sessions. The Stochastic Oscillator is now in neutral territory but signaling to buy as it gave positive crossover for confirmation to bullish stance; while the RSI is in neutral region.

 

After a recovery from the lower boundary of the short-term flag formation, WTI has retraced 50% of its decline from 90.33 to 85.21 at 87.77. Today, the flag support resides around 85.85, a closing break below here would confirm the bearish continuation signal for 81.03. On a broader spectrum, the technical theme would remain bearish below 93.66 and the 100 and 200 MAs at 90.65 and 92.62 respectively.

Trading Strategy: Neutral to Negative

Today, sell in 87.77 – 88.37 with risk above 88.93 (hourly filters). Internal supports on the downside are placed around 87.33 and 85.93.

 

To get technical analysis of Gold, Silver, EUR, GBP &USD visit: http://www.ikonmarkets.com/daily-reports/2012/12/18/

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December 19, 2012

 

Gold (spot) closed down on Tuesday, made its intraday high of US$1703.1/ ounce after setting intraday low of US$1660.8/ounce. Gold settled down by 1.24% at US$1,676.0/ounce.

 

Silver (spot) closed down on Tuesday made its intraday high of US$32.53/ ounce after setting intraday low of US$31.34/ounce. Silver settled 1.51% below at US$31.75/ounce.

 

Crude futures (January 2012) on Tuesday made an intra‐day high of US$88.14/bbl and made an intraday low of US$87.20/bbl and settled the day up by 0.617% at US$87.97/bbl on session close.

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3155/EUR and made an intraday high of US$1.3236/EUR and settled the day 0.516% up at US$1.3227 /EUR on session close.

 

GBP/USD on Tuesday made an intra‐day low of US$1.6193/GBP and made an intraday high of US$1.6267/GBP and settled the day up by 0.290% at US$1.6248/GBP on session close.

 

USD/JPY on Tuesday an intra‐day low of JPY84.206/USD and made an intraday high of JPY 84.418/USD and settled the day 0.076% below at JPY0.076%/USD on session close.

 

To get graphical analysis visit: http://ikonmarkets.com/daily-reports/2012/12/19/

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December 20, 2012

 

EUR/USD on Wednesday made an intra‐day low of US$ 1.3188/EUR and made an intraday high of US$1.3306/EUR and settled the day 0.113% down at US$1.3212 /EUR on session close.

 

Technical in Focus:

In daily charts, prices are sustaining above 200DMA (1.2780), which become strong support level, break below will target 1.2545-1.2460. MACD has crossed zero line and now giving a buy signal. Stochastic has entered in neutral territory and also gave negative signal to give bearish outlook for intraday.

 

The pair rose sharply as expected trading above 113% level of the sideways correction that occurred earlier. The correction level mentioned at 1.3235 levels became good support and might push the pair to 1.3305 resistances at 127.2% correction. The upside move might extend reaching 161.8% at 1.3480. We will ignore any overbought signals on momentum indicators as long as the pair is stable above 1.3160 levels.

 

Get Graphical Analysis at http://www.ikonmarkets.com/daily-reports/2012/12/20/

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December 21,2012

 

Gold (spot) closed down on Thursday, made its intraday high of US$1671.7/ ounce after setting intraday low of US$1635.6/ounce. Gold settled down by 1.130% at US$1,648.9/ounce.

 

Silver (spot) closed down on Thursday made its intraday high of US$31.22/ ounce after setting intraday low of US$29.59/ounce. Silver settled 3.54% below at US$29.96/ounce.

 

Crude futures (January 2012) on Thursday made an intra‐day high of US$90.51/bbl and made an intraday low of US$89.24/bbl and settled the day up by 0.256% at US$-3.54%/bbl on session close.

 

EUR/USD on Thursday made an intra‐day low of US$ 1.3202/EUR and made an intraday high of US$1.3293/EUR and settled the day 0.180% up at US$1.3236/EUR on session close.

 

GBP/USD on Thursday made an intra‐day low of US$1.6242/GBP and made an intraday high of US$1.6294/GBP and settled the day up by 0.129% at US$1.6270/GBP on session close.

 

USD/JPY on Thursday an intra‐day low of JPY83.847/USD and made an intraday high of JPY 84.440/USD and settled the day 0.235% above at JPY84.418/USD on session close.

 

To get technical analysis visit: http://www.ikonmarkets.com/daily-reports/2012/12/21/

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December 24,2012

 

GBP/USD on Friday made an intra‐day low of US$1.6147/GBP and made an intraday high of US$1.6163/GBP and settled the day down by 0.627% at US$1.6147/GBP on session close.

 

Technical in Focus:

In daily charts, prices are sustaining above 200DMA (1.5890) is become good support level to buy. 14-D RSI is currently in approaching towards overbought region at 55 but still giving buy signal. MACD is now in negative and indicating decreasing histograms; sell stance. The Stochastic Oscillator is in overbought territory and gave for gave negative crossover to confirm bearish stance.

 

 

The GBPUSD pair reversed after touching the ceiling of the long term sideways range at 1.6300 level, the reversal was a sharp bearish engulfing candle, however, the selloff didn't violate 1.6150 short term support level, where we may see attempts to resume the bullishness from here; we still prefer to stay aside with the start of the week, awaiting more clues, either through breaking the top of the range, or settling back below 1.6150.

 

Get Graphical Analysis at http://www.ikonmarkets.com/daily-reports/2012/12/24/

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December 26, 2012

 

It was an extremely quiet day on Monday (shortened trading day as well) which sets the tone for later this week. Other than a few economic reports (including China indus-trial profits and US new/pending home sales) and the appointment of S Abe as Japan's PM (12/26), nothing is supposed to happen. US data to come later this week includes Initial Job-less Claims (Thursday) ,Consumer Confidence (Thursday) and crude oil inventories (Friday).

 

To get today’s market analysis visit: http://ikonmarkets.com/daily-reports/2012/12/26/

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December 31, 2012

 

Gold (spot) closed up on Friday, made its intraday high of US$1666.40/ ounce after setting intraday low of US$1654.40/ounce. Gold went down by 0.510% at US$1,655.45/ounce.

 

Silver (spot) closed down on Friday made its intraday high of US$30.33/ ounce after setting intraday low of US$29.87/ounce. Silver settled 0.49% down at US$30.01/ounce.

 

Crude futures (January 2012) on Friday made an intra‐day high of US$91.49/bbl and made an intraday low of US$90.32/bbl and settled down by 0.08% at US$90.80/bbl on session close.

 

EUR/USD on Friday made an intra‐day low of US$ 1.3165/EUR and made an intraday high of US$1.3256/EUR and settled the day 0.105% down at US$1.3218/EUR on session close.

 

GBP/USD on Friday made an intra‐day low of US$1.6078/GBP and made an intraday high of US$1.6170/GBP and settled the day up by 0.453% at US$1.6167/GBP on session close.

 

USD/JPY on Friday an intra‐day low of JPY85.95/USD and made an intraday high of JPY 86.64/USD and settled the day 0.069% down at JPY86.01/USD on session close.

 

To get Graphical analysis visit : http://ikonmarkets.com/daily-reports/2012/12/31/

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