Oil N' Gold - Resources for Serious Traders
Energy and Precious Metals Technical Analysis
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Aug 23 17 04:41 ET
Gold prices eased this Tuesday, with spot settling at $1,285.44 a troy ounce, and trimming most of its weekly gains as the dollar rallied on better markets' mood. Still marginally higher for the week, a clearer picture for gold may come on Thursday, when Fed's Yellen will offer a speech within the Jackson Hole Symposium. The head of the Federal Reserve is not expected to talk specifically about the ongoing monetary policy, but investors will be trying to read in-between lines, looking for clues on what's next, particularly on rate hikes. In the meantime, the daily chart indicates that the upward momentum eased, but also that the commodity is far from bearish territory, as technical indicators eased modestly, but remain well above their mid-lines, whilst the price is far above all of its moving averages. In the shorter term, and according to the 4 hours chart, gold maintains a neutral stance, trading slightly below a horizontal 20 SMA and with technical indicators hovering around their mid-lines.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Aug 21 17 03:13 ET
Gold prices changed course on Friday, with spot ending the week marginally lower at $1,286.38 a troy ounce after reaching a fresh 2017 high of 1,300.72. The commodity got market's favor during the second half of the past week, amid a dovish tone coming from US policy makers in the form of the FOMC Minutes, and the terror attack that took place in Spain. On Friday, however, equities pared their sell-off, whilst the inability of the commodity to rally pass the psychological threshold of 1,3000 fueled profit taking at the end of the day. From a technical point of view, the daily chart shows that the price remains well above all of its moving averages, with the 20 DMA maintaining a sharp bullish slope far below the current level, while technical indicators remain within positive territory, but losing upward strength and posting lower highs, drawing a bearish divergence that is yet to be confirmed. In the 4 hours chart, the technical picture is quite alike with the price holding above all of its moving averages, whilst technical indicators retreat from overbought levels, with strong bearish slopes, but still above their mid-lines.
Read more...
 
GOLD - Faces Pullback Threats On Correction Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Aug 20 17 22:25 ET
GOLD - With the commodity retaining its upside pressure, more strength is envisaged but with caution of a pullback. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 level. Conversely, resistance resides at the 1,300.00 level where a break will aim at the 1,310.00 level. A turn above there will expose the 1,320.00 level. Further out, resistance stands at the 1,330.00 level. All in all, GOLD looks to weaken further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Aug 16 17 04:27 ET
Gold prices fell strongly for a second consecutive day, although recovered partially ahead of Wall Street's close, as dollar's momentum faded in the US afternoon. Risk aversion kept easing on Tuesday on cooling tensions between North Korea and the US, whilst strong US retail sales and manufacturing data underpinned the greenback. Spot gold settled at $1,274.06 a troy ounce after trading as low as 1,267.24. The daily chart shows that timid buying interest surged around a bullish 20 DMA, a few cents above the mentioned daily low, while technical indicators extended their slides within positive territory, now getting closer to their mid-lines. In the 4 hours chart and for the shorter term, the risk is towards the downside, as the 20 SMA is gaining downward strength well above the current level, whilst technical indicators barely bounced from near oversold readings. In this last time frame, the daily low converges with a modestly bullish 100 SMA making of the 1,267.00 area a major support for this Wednesday, as a break below it will likely result in a new leg lower.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Aug 14 17 04:34 ET
Spot gold settled at its highest in two months, ending Friday at $1,291.18 a troy ounce, boosted by the ongoing risk sentiment triggered by tensions between the US and North Korea. Base metals, particularly those considered safe-havens, benefited the most, as usual on times of fear, also helped by plummeting equities, and soft US inflation figures. By the end of the week, the US released its July PPI and CPI data, all of which came below expected, putting into question Fed's ability to maintain its tightening pace. The rally may continue this week, as the macroeconomic background has little chances of changing. The daily chart shows that the price soared above all of its moving averages, with the 20 SMA accelerating north above its 100 SMA, the Momentum indicator easing within positive territory, and the RSI maintaining its bullish slope around 73. In the 4 hours chart, the Momentum indicator diverges lower, retreating from extreme overbought levels, but the price posts higher highs above all of its moving averages, whilst the RSI indicator remains firm above 70, suggesting that the commodity may extend its advance further, particularly on a break above 1,295.56, this year high.
Read more...
 
GOLD - Strengthens Further Higher On Bull Pressure Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Aug 13 17 22:22 ET
GOLD - With the commodity continuing to hold on to its upside pressure as it close higher the past week. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 level. Conversely, resistance resides at the 1,300.00 level where a break will aim at the 1,310.00 level. A turn above there will expose the 1,320.00 level. Further out, resistance stands at the 1,330.00 level. All in all, GOLD looks to recover further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Aug 11 17 04:11 ET
Gold prices extended their rallies to fresh 2-month highs this Thursday, with spot ending at $1,285.00 a troy ounce after trading as high as 1,287.74. The commodity added roughly $35 during the last three days, an impressive run to safety amid escalating tensions between the US and North Korea. A softer-than-expected US producer price index backed gold's rally, as the figures weaken the case for the US Fed to raise interest rates again this year. The bullish potential remains intact, given that in the daily chart, the 20 DMA accelerated north with a strong upward slope below the current level, whilst technical indicators keep heading north, now approaching overbought territory. In the 4 hours chart, technical indicators are losing upward strength, but still holding within overbought readings, whilst moving averages gain upward strength below the current level, favoring another leg higher towards the 1,300.00 figure.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Aug 09 17 04:18 ET
Spot gold settled at $1,255.79 a troy ounce, the lowest in two weeks, as the market decided to give the greenback a vote of confidence after another solid local employment report, as the number of jobs' opening hit a record high in June. The figure came after a solid US employment report for July, and should keep the Fed in the tightening path, although no rate move is expected for September. The daily chart for gold indicates and increasing bearish potential, although further confirmations are required, as technical indicators are now hovering around their mid-lines, with diminished downward strength, whilst the price settled around its 20 DMA after briefly falling below the 100 DMA. In the 4 hours chart, the price settled below both, the 20 and 100 SMAs, with the shortest gaining bearish traction, in line with further declines, whilst technical indicators have managed to bounce within negative territory, still unable to re-enter bullish ground.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Aug 08 17 04:07 ET
Gold prices remained range bound this Monday, with spot recovering from a daily low of 1,255.69 to end the day pretty much flat at $1,258.75 a troy ounce. The dollar traded firmer against its major rivals, keeping the safe-haven commodity steady near the two- week low posted last Friday. Fed's Bullard comments on rates, however, limited the downside as he said that he is comfortable with current rates, somehow indicating no rush in implementing the third rate hike promised by the Central Bank at the end of 2016. Technically, the daily chart shows that spot met buying interest around a bullish 20 DMA, which heads north a few points above a flat 100 DMA. In the same chart, however, the Momentum indicator extended its decline, now poised to break below its 100 level, whilst the RSI indicator stabilized around 54. In the shorter term, and according to the 4 hours chart, the risk is towards the downside, as the price remains well below a bearish 20 SMA, whilst the Momentum indicators accelerated south within negative territory as the RSI indicator consolidates around 41.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Aug 04 17 04:14 ET
Spot gold plunged at the beginning of the session, later bouncing from a weekly low of 1,257.00 to settle at $1,268.25 a troy ounce. Demand for high yielding assets was behind the early decline, but as sentiment deteriorated though the day, the safe-haven commodity recovered its shine. Adding to the recovery were worse-than-expected US macroeconomic releases, which sent the greenback lower against most of its major rivals. Spot's daily chart shows that the early decline reverted from near a still flat 100 DMA, whilst the 20 DMA accelerated its advance below the largest, and is about to cross it, usually a sign of trend continuation. The Momentum indicator in the mentioned chart keeps easing within positive territory, but the RSI remains firm around 65, limiting chances of a downward move. In the shorter term and according to the 4 hours chart, gold is now neutral, as the price is hovering around a horizontal 20 SMA, whilst technical indicators lack directional strength, now stuck around their mid-lines.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Aug 03 17 04:32 ET
Spot gold ended little changed this Wednesday at $1,268.27 a troy ounce, down at the beginning of the day on soft physical demand in Asia. The commodity bounced back after the US opening as comments from Fed officers triggered concerns over US monetary policy, with the market now doubting on a third rate hike this year. Strong demand for riskier assets, limited gains, although spot holds at near two months highs. In the daily chart, the price remains well above all of its moving averages, with the 100 DMA still horizontal, with the 20 DMA accelerating north below it, and technical indicators in the mentioned chart retreating from overbought levels, supporting a downward corrective movement ahead on a break below 1,262.63, the weekly low and the immediate support. In the 4 hours chart, the price is currently hovering around a bullish 20 SMA, whilst technical indicators head south within neutral territory, indicating an increasing downward potential and in line with the longer term perspective.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Aug 02 17 04:44 ET
Gold prices extended their advances to near 2-month highs, with spot settling at $1,272.80 a troy ounce, not far from a daily high of 1,274.04. The bright metal gained most ground during the US session, as despite not negative, US data released earlier on the day failed to back the case for another rate hike ahead. Also, backing the advance of the metal were easing equities at the end all of the day, as despite closing in the green, US indexes spent most of the session retreating from their early peaks. Spot's daily chart shows that it's still biased north, extending further its advance above all of its moving average, and with the shortest gaining upward momentum well below the current level, whilst technical indicators present a neutral-to-bullish stance within overbought territory. In the 4 hours chart, the price remains above a bullish 20 SMA, with a short-lived slide below it being quickly reverted, and technical indicators retreating within positive territory, hardly enough to confirm a downward move.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Jul 28 17 04:10 ET
After a soft start to the day, spot gold bounced back ahead of the US close and settled at $1,262.15 a troy ounce, as plummeting equities backed demand for the safe-haven commodity. The bright metal closed the day unchanged, but posted a higher high and a higher low daily basis, maintaining the risk towards the upside. Additionally, spot reached a fresh 6-week high of 1,265.21, another factor supporting the case of a bullish continuation. In the daily chart, technical indicators have eased modestly, but hold near overbought readings, whilst the price held above all of its moving averages. In the 4 hours chart, the price met buying interest on a test of its 20 SMA, currently acting as a dynamic support at 1,254.76, while the Momentum indicator holds directionless well above its 100 level, and the RSI heads modestly lower around 61, posing a limited downward risk.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Jul 27 17 04:10 ET
Gold prices rallied to settle at their highest in over a month, with spot ending the day at $1,266.20 a troy ounce after trading as high as 1,263.40. The commodity slipped at the beginning of the day amid a cautious stance among investors, and continued demand for high yielding assets, but turned north after the US Central Bank gave relief to dollar bears. Odds for another rate hike this year diminished after this meeting, now closer to 35%, backing the case for further gold gains. The commodity has regained the bullish stance after some consolidation earlier on the week, as the daily chart shows that the price settled above its 100 DMA, while technical indicators resumed their advances, and stand at fresh monthly highs with strong upward slopes. In the shorter term, and according to the 4 hours chart, the bright metal is also biased higher, as technical indicators re-entered positive territory, heading higher early Asian session, and with the price back above all of its moving averages.
Read more...
 
GOLD - Faces Further Upside Threats On Bull Pressure Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Jul 23 17 22:22 ET
GOLD - With the commodity continuing to retain its recovery risk, more strength is expected in the new week. On the downside, support comes in at the 1,250.00 level where a break will turn attention to the 1,240.00 level. Further down, a cut through here will open the door for a move lower towards the 1,230.00 level. Below here if seen could trigger further downside pressure targeting the 1,220.00 level. Conversely, resistance resides at the 1,260.00 level where a break will aim at the 1,270.00 level. A turn above there will expose the 1,280.00 level. Further out, resistance stands at the 1,290.00 level. All in all, GOLD looks to recover further higher.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Jul 20 17 04:41 ET
Gold eased modestly this Wednesday, settling at $1,241.30 a troy ounce, easing modestly as dollar's bleeding stalled. The commodity eased at the beginning of the day, tracking the common currency's behavior, but bounced from a daily low of 1,235.88 with the downside limited amid fading prospects of continued tightening in the US monetary policy. Additionally, the positive tone in equities, despite modest, limited chances of a stepper recovery. Technically, the daily chart shows that the price settled now far from its weekly high and above its 20 and 200 DMAs, while the Momentum indicator extended its advance beyond the 100 level, as the RSI turned flat around 55, all of which maintains the risk towards the upside. In the 4 hours chart, a bullish 20 SMA keeps leading the way higher, now providing a dynamic support at 1,236.30, while technical indicators have partially corrected extreme overbought readings before turning flat well above their mid-lines.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Jul 17 17 04:41 ET
Gold prices recovered strongly on Friday, ending the week up on poor US data that cooled down expectations of firm tightening in local monetary policy. Spot gold settled at $1,228.23 a troy ounce, recovering from a 4-month low of 1,204.75 set at the beginning of the past week. The recovery took off some of the downward pressure over the bright metal, but it's still not enough to confirm an interim bottom ahead of further recoveries, as in the daily chart, selling interest rejected the advance around a bearish 20 DMA, at 1,232.80, while technical indicators barely managed to recover some ground, still well below their mid-lines. Shorter term, and according to the 4 hours chart, the upward potential also seems limited, as spot was unable to surpass a strongly bearish 100 SMA, whilst technical indicators turned lower within positive territory. In this last time frame, the 20 SMA provides a dynamic support at 1,220.70, with a break below it favoring a bearish extension for this Monday.
Read more...
 
GOLD - Faces Further Recovery Higher Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Jul 16 17 21:40 ET
GOLD - With the commodity continuing to retrain its recovery, more gain is envisaged. On the downside, support comes in at the 1,210.00 level where a break will turn attention to the 1,200.00 level. Further down, a cut through here will open the door for a move lower towards the 1,190.00 level. Below here if seen could trigger further downside pressure targeting the 1,180.00 level. Conversely, resistance resides at the 1,230.00 level where a break will aim at the 1,240.00 level. A turn above there will expose the 1,250.00 level. Further out, resistance stands at the 1,260.00 level. All in all, GOLD looks to recover further higher.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Jul 13 17 03:46 ET
Spot gold advanced for a third consecutive session to close the day at $1,220.20 a troy ounce, albeit gains were once again modest, as despite Fed's Yellen was less hawkish than expected, she confirmed the US Central Bank plans to keep on rising rates and start shrinking its balance sheet later this year. The commodity posted a daily high of 1,225.63 before retreating, and the overall outlook keeps favoring the downside, as the recovery was rejected from its 200 DMA, with technical indicators in the daily chart still heading modestly higher within negative territory, and the 20 DMA extending its slide well above the current level. In the 4 hours chart, spot met intraday buying interest around a horizontal 20 SMA whilst technical indicators lost upward momentum and turned lower, still holding within positive territory. Below 1,212.80, the risk turns towards the downside, with scope then to extend its slide pass the 1,2000 threshold.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Jul 12 17 04:46 ET
Gold prices bounced on Tuesday on broad dollar's weakness, with spot ending modestly higher, at $1,216.61 a troy ounce. The commodity recovered from a daily low of 1,208.13 after D. Trump Jr. made public sensitive campaign information, showing that Trump was offered help against Clinton. The advance, however, was moderated, amid the cautious tone of gold buyers ahead of Yellen's testimony this Wednesday, and US inflation on Thursday. A dovish tone from Fed's head could send the commodity higher, but the scenario seems quite unlikely. In the meantime, the daily chart shows that the risk remains towards the downside, as the price remains well below all of its moving averages, with the 20 DMA still heading strongly south well above the current level, whilst technical indicators remain flat near oversold levels. In the 4 hours chart, the price has settled above a bearish 20 SMA, while technical indicators lost upward strength after entering positive territory, limiting chances of a stronger recovery, at least at the time being.
Read more...
 
  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  3 
  •  4 
  •  5 
  •  6 
  •  7 
  •  8 
  •  9 
  •  10 
  •  Next 
  •  End 
  • »


JPAGE_CURRENT_OF_TOTAL