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Energy and Precious Metals Technical Analysis
IMM Positioning: EUR Shorts At Stretched Levels But Trend Intact Print E-mail
Analysis | Commodity Technical Analysis | Written by Danske Bank | Mon Jul 28 14 05:17 ET
Speculators increased their short EUR positioning to the highest level since November 2012, in absolute terms. As of Tuesday 22 July, speculators were net short EUR 26.2% of open interest. Short EUR positioning has reached the 11 percentile, which indicates positioning is at stretched levels. Short EUR positioning has accelerated on the back of better US data and waning portfolio flows into the euro-zone. As such, recent EUR weakness reflects a combination of USD strength (net USD longs rose USD3.9bn on the week) and idiosyncratic EUR weakness
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Jul 28 14 04:37 ET
Gold moved to the upside last Friday, but over last week, we saw gold mainly trading sideways after the downside move seen with the kick-start of trading over the week. Gold is trading around 38.2% correction at 1305.00 and will be the intraday barrier over the week. Linear Regression Indicators are positive and AROON shows the upside move overtakes the downside bias in addition to the positive crossover on MACD and that supports the upside move as far as stability is above 1292.60.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Jul 28 14 04:37 ET
WTI Oil futures are under downside pressure, testing 101.55 areas. In general, stability over daily basis above this level upholds the positive outlook and oil should breach 102.00 to confirm initially upside targets toward 104.00. We hold onto our positive outlook as far as101.55 remains intact.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Jul 28 14 00:13 ET
SPOT GOLD closed higher due to short covering on Friday. The highrange close sets the stage for a steady to higher 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 the decline off July's high, the reaction low crossing is the next downside target. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Jul 25 14 04:37 ET
Linear Regression Indicators are showing another negative divergence, as the metal is trading below 50% correction at 1292.60. Stability below the referred to level is negative and could extend the downside to touch 1285.15 and 1280.25 at 61.8% correction.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Jul 25 14 04:36 ET
The price kept on moving to the downside yesterday and stabilized at the main support at 102.00 showing on graph, accompanied by Stochastic residing at oversold areas supporting the opportunities of extending the overall upside move that depends initially on stabilizing above 101.55. The main awaited targets resides at 104.00 then 106.00 levels.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Jul 24 14 23:49 ET
SPOT GOLD closed lower on Thursday renewing this month's decline. 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 bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the reaction low crossing is the next downside target. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Gold Plunges On Improved Appetite For Risk Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Thu Jul 24 14 22:55 ET
Just like the past few days, gold is once again weighed down by the deadly combination of stronger dollar and US equities. The greenback's strength is bizarre given the big disappointment we had in terms of housing market data as new home sales plunged in June from an already low base the month before. Sales of new homes dropped to 406,000 annualised units in June from 442,000 in May (the original estimate for May was 504,000).
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Jul 24 14 04:16 ET
The metal dropped during the Asian trading session today and is trading below the psychological barrier 1305.00 now. The price is currently facing the support 1296.60 and breaking it could extend the downside move. The metal should break 1292.65 to keep the negative possibility valid for today.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Jul 24 14 04:15 ET
Crude managed to breach SMA 100 and stabilized above 103.00 supporting extending the upside move with its next target at 104.00, as we wait a break above this level to move towards 106.05. The negativity of momentum indicator could force the price to fluctuate sideways temporarily before extending the upside move that requires stabilizing above 101.55.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Jul 24 14 00:21 ET
SPOT GOLD closed lower on Wednesday. The lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral signalling that sideways to lower prices are possible nearterm. If it resumes the decline off July's high, the reaction low crossing is the next downside target. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Jul 23 14 05:22 ET
Crude rebounded to the downside yesterday after attmepting to breach 103.00 levels to test the short-term support showing on graph, as momentum indicators are attempting to provide positive signals to support the overall positive scenario. Till now, the overall bullish expectations are still valid unless the price breaks 101.55 waiting to breach 102.55 levels to ease the way towards 104.00.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Jul 23 14 05:22 ET
The pair is fluctuating heavily between Linear Regression Indicator 34 and 55 and around 38.2% correction showing on graph at 1305.00, which will be the intraday interval for today. Trading below 1320.35 at 23.6% correction is negative, but the pair should break the referred to support 1305.00 then the psychological barrier 1300.00 to support this outlook.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Jul 23 14 00:01 ET
SPOT GOLD closed lower on Tuesday. The lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it resumes the decline off July's high, the reaction low crossing is the next downside target. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Jul 22 14 04:13 ET
The price stabilized above 102.00 with a daily closing above it supporting the opportunities of extending the upside move over short and intraday basis supported by breaching SMA 50 and 100 waiting to move towards 104.00 then 106.85 levels. Of note, the expected upside move depends on stabilizing above 101.55.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Jul 22 14 03:50 ET
We notice several negative signals on the metal, whereas the price failed yesterday to keep trading above 1314.00 with a daily closing, and Linear Regression Indicator 34 and 55 crossed over negatively. Meanwhile, Stochastic achieved a negative crossover at line 50 and MACD is trading negatively. Therefore, the downside possibility is available today and will be related to the metal's ability to stabilize below 1296.60 in the upcoming period.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Jul 21 14 23:56 ET
SPOT GOLD closed higher on Monday. 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. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it resumes the decline off July's high, the reaction low crossing is the next downside target.
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Crude Oil Stable Following Recent Volatility Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Mon Jul 21 14 22:01 ET
Crude oil is stable following Friday's sell-off. Last week, Brent found some support from the escalation of conflicts between Israel and Palestine, and as fears over further sanctions on Russia grew following the crash of the Malaysian Airlines plane in Eastern Ukraine. This week, geopolitical tensions are again likely to remain the main source of direction for oil prices. However the fact that there have been no further disruptions to the supply of oil despite the increased violence in the Middle East and North Africa, bullish investors appear hesitant to come back into the market. Indeed, sentiment is still quite bearish: according to the latest positioning data from the ICE, net long positions in Brent were slashed by almost 25% in the week to last Tuesday (15th July) as underlying oil prices collapsed. Speculators have now reduced their bullish bets by nearly 40% since late June, when Brent oil peaked at around $115 a barrel as Libya produced more oil and investors shrugged off the rebels' advance in Iraq. But given that Brent has bounced back since Tuesday, net longs may have correspondingly increased.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Jul 21 14 03:55 ET
The metal is trading in a sideways range; but since the third of June 2014, the price inched higher achieving a top at 1345.10 before moving back to the downside. The price is attempting to rise with the beginning of this week but currently contradicts with Linear Regression Indicator 34 and 55 that are trying to crossover negatively below the resistance level 1331.45.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Jul 21 14 03:55 ET
Crude dropped breaking 102.00 levels and stabilized below it halting the positive scenario suggested in our latest reports to monitor the price at the critical levels represented in the support 101.55 and resistance 102.00, whereas breaking the support eases the way for further bearishness over intraday basis targeting 100.75 then 99.75, while a break above the resistance pushes the price to the upside again targeting 106.85 mainly in the short term.
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