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Energy and Precious Metals Technical Analysis
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Apr 23 14 01:09 ET
GOLD closed lower on Tuesday and the midrange close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the reaction high crossing are needed to confirm that a shortterm low has been posted. If it renews the decline off last October's high, the 62% retracement level of the 20082011 rally crossing is the next downside target.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Apr 22 14 03:42 ET
The metal dropped yesterday but failed to stabilize below 50% correction at 1285.00 showing on graph. AROON Indicator is showing a downside move, as RSI is trading below line 50 and Linear Regression Indicators are trading negatively.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Apr 22 14 03:41 ET
The price is still fluctuating in a tight range affected by the financial markets in the past few days, as its still stable above 103.05 levels keeping the opportunities of achieving positive trading in the upcoming period which requires breaching 104.00 levels to confirm extending gains towards 105.20 over intraday basis. SMA 50 and 100 still supports the price from the downside, as breaching 103.05 pushes the price to trade negatively temporarily to test levels 102.00 before clearly determining the next move.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Apr 22 14 01:23 ET
GOLD closed lower on Monday as it extended last week's decline. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends today's decline, the 62% retracement level of the DecemberMarchrally crossing is the next downside target.
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CRUDE OIL - Vulnerable To The Downside On Correction Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Mon Apr 21 14 22:22 ET
CRUDE OIL: With the commodity closing lower the past week, further downside pressure is envisaged. Despite its present price hesitation our immediate outlook on Crude Oil remains lower. On further weakness, support comes in at the 102.94 level where a breach will aim at the 102.04 level. A cut through here will target the 100.68 level with a push below here if seen exposing the 99.93 level. Further down, supports are seen at the 99.81 level and the 98.86 level where a breach will set the stage for a move towards the 98.00 level. Conversely, resistance comes in at the 104.98 level. A breach of here will pave the way for a run at the 105.21 level, its Feb 2014 high. Further out, resistance resides at the 106.00 level and then the 107.00 level. All in all, Crude Oil remains biased to the upside short term but faces corrective weakness risks
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Apr 17 14 04:26 ET
Gold has traded in slightly bullish bias yesterday, settling within the level below 38.2% correction at 1323.20 and 1309.35. Stability below these levels increases the possibility of another attempted slide, but to support this scenario, we must see a break below 1285.10 represented at 50% correction followed by break below the previous bottom at 1277.00.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Apr 17 14 04:26 ET
The price tested 103.05 levels yesterday after the sharp drop referred to in our latest report, while trading stabilized again between the mentioned support and the resistance 104.00, as the price should break one of the mentioned levels again to clearly determine the next targets. Of note, breaching the mentioned resistance shall push the price to etxned its overall positive trading with initial targets starts at 105.20 and extends to 107.10, while breaking the support pushes the price towards 102.00 levels before a new attempt to the upside.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Apr 17 14 00:48 ET
GOLD closed slightly higher on Wednesday as it consolidated some of Tuesday's decline. The highrange close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends Tuesday's decline, the 62% retracement level of the JanuaryMarchrally crossing is the next downside target. If it renews this month's rally, the reaction high crossing is the next upside target.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Apr 16 14 04:10 ET
As the metal dropped sharply below the psychological barrier 1300.00, a long bearish candle was formed yesterday which was reflected on RSI as an attempt to form a negative crossover as showing on graph. Trading below the referred to level and below 38.2% correction showing on graph at 1309.35 might put further negative pressure to test 1285.00.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Apr 16 14 04:09 ET
The price failed to stabilize below 103.25 and rebounded to the upside to test 104.00 levels, so we will monitor the price at the pivotal levels represented in the support 103.25 - 103.05 and resistance 104.00, whereas breaking the mentioned support pushes the price towards 102.00, while breaching the resistance shall extend the upside move with its initial targets residing at 105.20 and extends towards 107.10.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Apr 16 14 00:27 ET
GOLD closed sharply lower due to profit taking on Tuesday as it consolidated some of this month's rally. The midrange close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a shortterm top might be in or is near. Multiple closes below the 10day moving average would confirm that a shortterm top has been posted. If it renews this month's rally, the reaction high crossing is the next upside target.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Apr 15 14 05:00 ET
The metal failed yesterday to stabilize above 1323.20 reducing positivity to an extent. MACD is still showing positive signals and RSI is still stable above line 50 despite the slight bearishness, which keeps the possibility of the overall upside move.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Apr 15 14 04:59 ET
The price broke the intraday support which might trigger further bearishness to test 102.00 as we need to monitor 103.25 to confirm the next move, whereas breaking this level confirm moving towards 102.00 first. On the other hand, a break above 104.00 levels provides a positive support to bring back the upside move with its next targets residing at 105.20. Therefore, we need to monitor the price at the mentioned levels to determine the next move.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Apr 15 14 00:27 ET
GOLD closed higher on Monday as it extends this month's rally. The midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the reaction high crossing is the next upside target. Closes below the 10day moving average would confirm that a shortterm top has been posted.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Apr 14 14 05:19 ET
The metal inched higher with the beginning of this week to stabilize above 1323.20 that represents the extended target 78.6% correction of the bullish harmonic AB=CD Pattern. Stability above the referred to level brings back the pattern's effect and might extend bullishness to test 23.6% correction and perhaps 61.8% correction of the bullish wave that started from the bottom 1182.46 reaching the top 1387.82.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Apr 14 14 05:18 ET
The price managed to breach 104.00 and is attempting to to build a support above it to support extending the upside move over short term basis, as our next target resides at 105.20 supported by SMA 50 which encourages us to favor further gains in the upcoming period. Breaching 105.20 extends bullishness towards 108.00, as its significant to stabilize above 103.35 to keep the opportunities of achieving the suggested targets.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Apr 14 14 00:19 ET
GOLD closed lower on Friday. The lowrange close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes below the 10day moving average would temper the nearterm friendly outlook.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Apr 11 14 04:53 ET
The metal faced strong resistance yesterday at 1323.20 at 78.6% correction of CD Leg of the bullish harmonic AB=CD Pattern, as the price should breach this level to confirm extending the upside move and the strength of the referred to pattern. The mentioned level matches Linear Regression Indicator 55 strengthening the importance of breaching it, especially that Linear Regression Indicator 55 is still negative.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Apr 11 14 04:10 ET
The price is trading in a slight bearish bias after approaching 104.00 yesterday, as Stochastic is attempting to gain positive momentum supported by the upside move, while SMA 50 and 100 still support the price from the downside. Hence, we expect the overall bullish bias with the next target at 105.20, while achieving it requires stability above 102.00.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Apr 11 14 01:53 ET
GOLD closed higher on Thursday and above the 20day moving average crossing confirming that a low has been posted. The midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes below the 10day moving average would temper the nearterm friendly outlook.
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