GOLD- Moving higher ahead of a possibility of the US government shutdown

Fundamental Analysis

The precious metal is moving higher today as we are seeing traders closing their bearish bets and positioning themselves for the US government shutdown. While the US politician continue to battle for their grounds on debt ceiling, the volatility for the precious is increasing. If the situation continues like this, we could very well see a government shutdown in the US which could be reflected in higher gold prices.

Technical Analysis

Focus: The precious metal needs to stay above the $1300 psychological level to confirm the uptrend. A break below the 1291 support area could open the floor toward the next target of $1249.

Technical AnalysisBy sharptrader

Gold- Fundamental Vs Technical Analysis

Fundamental Analysis

The precious metal is winging between gains and losses as investors are apprehensive that the Federal Reserve bank will put the lid on their ultra loose monetary policy. The short term blip in the gold price which we saw last week has faded and the bias could be to the downside as the entire focus amid traders is on the Fed’s money printing machine which could be slowing its pace very soon.

Technical Analysis

Focus: The precious metal needs to stay above the $1300 psychological level to confirm the uptrend. A break below the 1291 support area could open the floor toward the next target of $1249.

Technical AnalysisBy sharptrader

Apple- Bounced from Support zone as Predicted- What Now

Apple bounced from its support zone on a 30 minute time frame as predicted. This support zone was given in our analysis on 11^th of September. The price has not completed its gap which was formed yesterday and it may continue its upward move today as buyers are still very much in control of the price. The uptrend is still in very much in play as the price is trading well above its upward trend line. The minor resistance mentioned below (504-514) may not hold any further because this will be the third time the price visiting this level therefore, there may not be enough selling pressure to hold the bulls.

Technical AnalysisBy sharptrader

USD/JPY- Bullish Pattern formed – Will you trade?

Focus: As long as the price stays above the upward trend line, the target for the upside could be the 100.37 resistance zone, and a break above that will open the room for a further upside with next target at the 101.28 level.

Strategy in Play:

Technical AnalysisBy sharptrader

GBP/USD- Technicals are pointing for a bullish outlook

Focus: the pair could bounce from its support zone of 1.5978 (mentioned below) and a break of this support zone could open a further room to short with next support zone near the 1.5799( mentioned below)/

Strategy in Play

Technical AnalysisBy sharptrader

Barclays PLC- Selling pressure may lose its grip

Barclays stock is trading within the support zone on a 4 hour time frame. The price has pierced the Bollinger band and it is trading far enough from 20 day moving average which represents that the volatility for the stock is extremely high. The piercing of the Bollinger band does have significant importance when this takes place at an important level of resistance/support zone, because this is an ability to stop the upward/downward move or reverse the trend. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bulls are in strong control.

Technical AnalysisBy sharptrader