Oil N' Gold - Resources for Serious Traders
Energy and Precious Metals Technical Analysis
Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Mar 27 15 05:25 ET
One of our short-term technical objectives at 1219.00 has been reached yesterday, but the strong bounce from there warns of starting sideways actions. Although technical signs remain bullish, but we are content with the profits we made since the opening of this week awaiting for better entry points. To recap, close any open positions and let us watch the market movements today until we get a better entry point with the opening of the next week.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Mar 27 15 05:25 ET
Oil has approached the short-term technical target at 52.85 and started to show signs of profit-taking for longs taken this week. We prefer to take profit for the long positions and stay aside due to coming below 76.4% Fibonacci level as seen on the provided daily chart. A break below 49.70 will not be a good sign for bull, while clearing 51.45 with a weekly closing will actuate us to re-enter the market buying oil.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Mar 26 15 23:43 ET
SPOT GOLD closed higher on Thursday as it extends the rally off last week's low. The lowrange close sets the stage for a steady to lower 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. If it extends the rally off last week's low, the 50% retracement level of the JanuaryMarchdecline crossing is the next upside target. Closes below the 10day moving average crossing 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 | Thu Mar 26 15 05:40 ET
Respecting our proposed bullish scenario, the metal has soared above the psychological level of 1200.00 as seen on the provided daily chart. Clearing 61.8% Fibonacci level is a very positive technical catalyst that added to the positivity on technical indicators. Accordingly, we remain bullish over intraday basis aiming to re-test 1219.00 and 1240.00 zones.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Mar 26 15 05:40 ET
Oil has soared after finding strong support at 38.2% Fibonacci retracement, clearing 61.8% and 76.4% Fibonacci levels of the above seen wave. The price actions have turned technical indicators into positivity once again and that solidifies the bullishness awaited over intraday and short-term basis. We will use any intraday corrective rallies to join bulls once again.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Mar 25 15 23:45 ET
SPOT GOLD closed higher on Wednesday as it extends the rally off last week's low. The highrange close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off last week's low, the 38% retracement level of the JanuaryMarchdecline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Silver: Key Hurdles Looming For Shiny Metal Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Mar 25 15 22:27 ET
Silver has enjoyed a generous eleven per cent rally from its low this month. The grey precious metal has even outperformed gold, which has climbed by about 5 per cent from its base. Silver has obviously risen from a lower base which is why it appears to have done better in percentage terms. Unlike gold, silver has a dual role as a precious metal and also an industrial material. This makes silver more appealing when the global economy is expected to do well, as manufacturing activity also tends to pick up. Although the recent manufacturing data out China has been far from convincing, things could change pretty quickly with the euro zone economy finally starting to show signs of growth. The ECB and most other central banks' accommodative monetary policies, combined with the weaker oil prices may help to fuel economic growth not just in the single currency bloc but elsewhere, too. This will only help to boost the appeal of silver. But this process may take a long time to come to fruition. Thus, there is a possibility that silver prices could fall further back before staging a more profound recovery. But for the time being though the retreating dollar is helping to keep the metal elevated.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Mar 25 15 05:19 ET
Gold has inched higher approaching the clue level at 1198.00 along with stability above 76.4% Fibonacci level. A break above 1198.00 is required to affirm testing the next Fibonacci level. Our outlook remains bullish over intraday basis as far as 1172.00 holds with a daily closing.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Mar 25 15 05:19 ET
Our yesterday's detected technical objective at 48.20 has been reached easily after stabilizing above 38.2% Fibonacci level. The bounce from this level warns of offering inappropriate risk versus reward ratio today. A break back above 48.30 will clear the path towards 61.8% Fibonacci, but we are currently content with the profits we made since the opening of this week and we will watch out the price behaviors today before re-entering the market.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Mar 25 15 00:32 ET
SPOT GOLD closed higher on Tuesday. The highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off December's low, the 75% retracement level of the AugustDecember decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.
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Crude Oil Dominated By USD Ahead Of Supply Data Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Tue Mar 24 15 22:47 ET
The weaker manufacturing PMI data out of China was largely shrugged off this morning as crude prices advanced for a third consecutive session. Oil prices appeared to be moving in the opposite direction to the dollar which incidentally was also lower for a third day this morning. But in the afternoon trading, commodities turned mostly lower and once again the greenback was the culprit behind this latest move. The dollar found some support on the back of mostly stronger US economic data. New homes sales surged 8 per cent on an annualised format in February to its highest level in 7 years while the Flash Manufacturing PMI also topped expectations with a print of 55.3 which was the best reading since October. But the Richmond Manufacturing Index unexpectedly dropped to -8 this month, delivering a timely reminder about the recent downturn in US data. Earlier, both the headline and core CPI had printed +0.2% month-over-month in February which had given the dollar a short-lived boost. This quickly faded as investors released the 0% annualized inflation rate was nothing to get excited over. With the dollar being this volatile, oil and other buck-denominated commodities may also face similar price swings in the near term.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Mar 24 15 05:26 ET
Respecting our intraday bullish scenario, gold has moved again to the upside approaching the key resistance zones of 1198.00. In the interim RSI14 continued to inch higher along with stability above Linear Regression. Henceforth, we still see chances for breaching the key Fibonacci level at 1198.00 on the way towards 1220.00 followed by 1240.00. On the downside, coming beneath 1151.00 will give us a rational technical reason for concern.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Mar 24 15 05:26 ET
Oil has moved to the upside aiming to clear the 38.2% Fibonacci retracement of the above seen wave. MACD has finally crossed over bullishly indicating further bullishness towards 50% level at 48.30. A break above 47.45 will be a very positive indication for intraday traders, while breaching 45.20 will bring the bearishness back into focus.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Mar 24 15 00:02 ET
SPOT GOLD closed higher due to short covering on Monday. The highrange close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible nearterm. If it extends the decline off February's high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Sun Mar 22 15 23:38 ET
SPOT GOLD closed higher due to short covering on Friday as it consolidates some of this week's decline. The highrange close sets the stage for a steady opening when Monday'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 this week's decline, the 38% retracement level of the JanuaryMarchrally crossing is the next downside target.
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GOLD - Biased To The Upside On Corrective Recovery Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Mar 22 15 22:20 ET
GOLD - With GOLD halting its weakness and triggering a recovery the past week, further strength is expected. On the downside, support comes in at the 1,175.25 level where a break will aim at the 1,160.00 level. Below here if seen could trigger further downside towards the 1,140.00 level where a break will aim at the 1,120.00 level. Conversely, on the upside, resistance resides at the 1,190.00 level where a break will aim at the 1,200.00 level, its key psycho level. A violation of here will turn attention to the 1,214.75 level followed by the 1,150.00 level. All in all, GOLD remains biased to the downside medium term but faces corrective recovery risk
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Mar 20 15 01:43 ET
SPOT GOLD closed lower on Thursday as it extends yesterday's breakout below the 20day moving average. The highrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends this week's decline, the 38% retracement level of the JanuaryMarchrally crossing is the next downside target. Closes above the 10day moving average crossing would confirm that a low has been posted.
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Gold: Bucking The Trend In The Buck Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Thu Mar 19 15 21:59 ET
Markets have calmed down today after yesterday's staggering post-Fed moves, but many traders are still trying to catch their breath. The more forward-looking traders who were able to capitalize on the dollar's momentary weakness are sitting pretty today: EURUSD has fallen over 400 pips from yesterday's peak, GBPUSD is once again trading lower on the week, and USDJPY is back pressing against its 7.5-year high near 121.80. It's too early to say conclusively whether yesterday's price action was just a momentary setback for the dollar or the beginning of a more substantial pullback, but the initial evidence points to the former.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Mar 18 15 23:44 ET
SPOT GOLD closed higher on Wednesday and the highrange close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible nearterm. If it extends the decline off February's high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Gold: Rallying In To Resistance Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Mar 18 15 22:02 ET
As anticipated, markets are going absolutely bonkers after the Federal Reserve made their intentions known to the world this afternoon. In terms of the statement, they pretty much did what was expected of them; they dropped the word 'patient' and signaled that future policy would be data dependent. The biggest market moving catalyst for the market though was the dot chart that indicates where committee members feel interest rates will be in the future. Today's chart showed that members have become a little less optimistic about the pace of interest rate rises which would seem to portent that the Fed will remain accommodative for quite some time longer.
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