Oil N' Gold - Resources for Serious Traders
Energy and Precious Metals Technical Analysis
Crude Turns Positive Ahead Of Oil Data Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Aug 24 16 21:55 ET
Oil prices swung wildly into the positive territory yesterday. The rally eventually came to a halt around the $50 handle for Brent and $48 for WTI, and both contracts have been trending lower from these levels until an hour or so ago. It looks like oil prices have now found some short-covering support ahead of today's official US crude oil inventories report, due at 15:30 BST (10:30 ET).
Read more...
 
Crude Rally Gathers Pace But Stocks Fail To Respond Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Thu Aug 18 16 22:39 ET
Crude's rally gathered pace on Thursday, with Brent oil surging through the $50 hurdle and WTI climbing above $48 a barrel, as we highlighted the possibility in our oil report yesterday. So far however, US equity indices have not followed oil higher, which serves as a reminder that correlations can and do break down or become weak from time to time. But if crude oil is able to sustain its gains in the coming days then this should obviously be good news for the energy sector, which may be enough to lift the Dow Jones Industrial Average to new unchartered territories soon. Indeed, with the likes of Chevron and Exxon being well off their mid-July highs, one could argue that they have some catching up to do with both oil prices and the wider stock markets in general. Either that, or the stock market participants do not believe that this crude oil rally will be sustained.
Read more...
 
Crude Stocks Fall More Than Expected, Gold Traders Await FOMC Minutes Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Aug 17 16 22:05 ET
The official weekly crude oil inventories report from the US Energy Information Administration (EIA), released this afternoon, has confounded expectations in a positive way and oil prices have correspondingly surged to their best levels since early July. Whereas the American Petroleum Institute (API) had reported a 1 million barrel decline in US oil stocks and a large 2.2 million barrel build in gasoline inventories last night, today’s EIA data shows that the decrease in crude inventories was in fact more than double that figure at 2.5 million barrels while gasoline inventories actually also fell and by a large amount of 2.7 million barrel. Furthermore, the decline in Cushing stocks were confirmed to be 72,000 barrels.
Read more...
 
Crude Oil Prices Breakout Of Two-Month Downtrend Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Tue Aug 16 16 22:21 ET
Crude oil prices, including both the US West Texas Intermediate and international Brent crude benchmarks, continued to surge sharply on Tuesday, extending the recent two-week rebound and recovery. In the process of this rise, prices have also broken out further above the short-term downtrend that had been in place for more than two months, since the early June highs.
Read more...
 
GOLD - Targets Further Weakness Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Aug 14 16 21:39 ET
GOLD - Having With a the commodity continuing to hold on to its downside pressure, more weakness is likely. On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,320.00 level. Further down, a cut through here will open the door for a move lower towards the 1,310.00 level. Below here if seen could trigger further downside pressure targeting the 1,1310.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, GOLD looks to strengthen further on correction
Read more...
 
Crude's Long-Term Outlook Remains Bullish Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Aug 10 16 22:16 ET
Overnight saw crude oil extend its decline as concerns about oversupply were reinforced although prices have since rebounded ahead of the publication of the official weekly US crude inventories report later this afternoon. In its monthly report, the US Energy Information Admiration (EIA) revised upwards its estimate for US oil production because of the increased drilling activity that we have witnessed over the past several weeks. On top of this, the American Petroleum Institute (API), an industry group, reported a sharper-than-expected 2.1 million barrel rise in US weekly crude stockpiles. As a result, hopes that the official data from the EIA would reveal a 1.3 million decrease – the first decline in two weeks – were dashed.
Read more...
 
Crude Oil Extends Plunge Below $40/Barrel As Oversupply Worries Persist Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Mon Aug 01 16 23:25 ET
Crude oil prices continued to fall precipitously on Monday, with the West Texas Intermediate (WTI) benchmark for US crude dropping below $40 per barrel for the first time in more than three months. Monday’s fall extends the sharp downtrend that has been in place since the $51-area highs of June. WTI extended this downtrend on Monday as persistent concerns over the crude oil oversupply situation were compounded by a survey reflecting record-high output by OPEC nations last month. Also weighing on oil prices was data that revealed the US oil rig count had climbed by 44 rigs in July, the highest monthly increase in over two years.
Read more...
 
GOLD - Risk Points Higher Medium Term With Eyes On 1,358.28 Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Jul 31 16 22:57 ET
GOLD - Having the commodity closed higher the past week, more strength is envisaged. On the downside, support comes in at the 1,340.00 level where a break will turn attention to the 1,330.00 level. Further down, a cut through here will open the door for a move lower towards the 1,320.00 level. Below here if seen could trigger further downside pressure targeting the 1,1310.00 level. Conversely, resistance resides at the 1,360.00 level where a break will aim at the 1,370.00 level. A turn above there will expose the 1,380.00 level. Further out, resistance stands at the 1,390.00 level. All in all, GOLD looks to strengthen further on correction.
Read more...
 
Gold Remains Supported After Fed Defers Rate Hike Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Thu Jul 28 16 22:38 ET
In the immediate aftermath of Wednesday’s FOMC statement, in which the Fed held rates steady as expected while still acknowledging improved economic conditions, gold spiked down on the mildly hawkish elements of the statement. Shortly after, however, as the markets digested the Fed’s characteristically non-committal comments that gave no indication as to the potential timing of a future rate hike, the precious metal surged on the continued interest rate uncertainty.
Read more...
 
GOLD - Remains Vulnerable To The Downside On Correction Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Jul 24 16 23:07 ET
GOLD - Having the commodity closed lower on a follow -through on the back of its previous week losses the past week, more weakness is envisaged. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,1280.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, GOLD looks to weaken further on correction
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Jul 19 16 23:39 ET
Stop gold fell down to $1,323.44 a troy ounce this Monday, closing the day above it, but still in the red, as US stocks managed to reach fresh recordhighs, despite posting moderate intraday advances. Also, weighing on the commodity's price is a stronger dollar, as betterthanexpected US data released last week revived speculation of a US rate hike. Technically, the daily chart shows that the price was contained by the 23.6% retracement of the latest weekly rally at 1,333.50, still the main resistance. In the same chart, the 20 SMA has lost upward strength above the current level, whilst the technical indicators extended their declines below their midlines, supporting some further slides on a break below 1,320.13, Friday's low and the immediate support. In the 4 hours chart, a bearish 20 SMA attracted selling interest on intraday spikes, whilst the technical indicators retreated from their midlines, and head slightly lower, in line with the longer term outlook.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Jul 18 16 23:42 ET
Spot gold fell last week on the back of dollar's strength and a resurge in stocks' markets, as Wall Street surged to fresh record highs. The commodity closed the week at $1.328.57 a troy ounce, having spent last Friday consolidating near the weekly low set at 1,320.13. After rallying for six weeks inarow, the commodity fell below the 23.6% retracement of such advance, trading also below its 20 DMA for the first time since June 24th. In the daily chart, technical indicators have turned sharply lower from overbought levels, having pared their declines near their midlines, but maintaining their bearish slopes, maintaining the risk towards the downside. In the 4 hours chart the 20 SMA has crossed below the 100 SMA above the current level, with the shortest converging with the mentioned Fibonacci resistance at 1,333.50, whilst the technical indicators hover within negative territory, also indicating the decline may extend during the upcoming sessions, particularly if the dollar remains strong.
Read more...
 
GOLD - Triggers Corrective Pullback Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Jul 17 16 22:18 ET
GOLD - The commodity triggered a corrective weakness the past week leaving risk lower. But it could move a little bit higher in the new week following its Friday close(see daily chart). On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,310.00 level. Further down, a cut through here will open the door for a move lower towards the 1,300.00 level. Below here if seen could trigger further downside pressure targeting the 1,1290.00 level. Conversely, resistance resides at the 1,350.00 level where a break will aim at the 1,360.00 level. A turn above there will expose the 1,370.00 level. Further out, resistance stands at the 1,380.00 level. All in all, GOLD looks to weaken further on correction
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Jul 15 16 03:26 ET
Spot gold extended its weekly decline down to $1,320.13, its lowest for this July, as stocks hold on to gains, as despite the BOE left rates unchanged, it announced more easing for their next August meeting. The commodity bounced partially from the level, but remains in the red daily basis, with an increasing bearish potential, as Britain's newly born political stability has brought a sense of relief to markets. Technically, the daily chart shows that the price is hovering around a major support, the 23.6% retracement of its latest rally that converges with a bullish 20 SMA. In the same chart, the Momentum indicator holds above its midline, but with no clear directional strength, whist the RSI indicator heads lower around 52, supporting a downward continuation. In the 4 hours chart, the price is standing a few pips below the 100 SMA that converges with the mentioned Fibonacci level, whilst the 20 SMA heads south around 1,342.35, providing a strong dynamic resistance. Technical indicators in this last time frame head modestly higher within bearish territory, all of which maintains the upside limited.
Read more...
 
GOLD - Tumbles, Eyes The 1,312.00 Zone Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Fri Jul 15 16 03:13 ET
GOLD - The commodity reversed its Wednesday gain to weaken on Thursday leaving risk of more lower towards the 1,312.00 zone on the cards. On the downside, support comes in at the 1,312.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,1280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to weaken further on correction
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Jul 13 16 22:07 ET
Gold slide extended this Tuesday, with spot gold falling down to $1,330.30 a troy ounce, its lowest since July 1st. Investors continued dropping the safehaven asset and flying towards equities, although the decline has been so far moderated, considering the subsisting risks around Europe. The pullback from the year high of 1,375.11 has found some buying interest around the 23.6% retracement of the latest bullish run between 1,199.51, May 30th low, and last week highs, although technical readings point for further slides, as in the daily chart, indicators head sharply lower, coming from overbought levels, and are poised now to break below their midlines. The 20 SMA in the mentioned time frame stands at 1,327.60, providing an immediate support. In the 4 hours chart, the price is now a few cents below the neckline of a clear double roof set at the mentioned year high, at 1,335.15 whilst the 20 SMA gained bearish strength above the current level, and the technical indicators maintain their sharp bearish slopes near oversold readings, in line with further slides for this Wednesday.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Jul 12 16 22:26 ET
Gold slide extended this Tuesday, with spot gold falling down to $1,330.30 a troy ounce, its lowest since July 1st. Investors continued dropping the safehaven asset and flying towards equities, although the decline has been so far moderated, considering the subsisting risks around Europe. The pullback from the year high of 1,375.11 has found some buying interest around the 23.6% retracement of the latest bullish run between 1,199.51, May 30th low, and last week highs, although technical readings point for further slides, as in the daily chart, indicators head sharply lower, coming from overbought levels, and are poised now to break below their midlines. The 20 SMA in the mentioned time frame stands at 1,327.60, providing an immediate support. In the 4 hours chart, the price is now a few cents below the neckline of a clear double roof set at the mentioned year high, at 1,335.15 whilst the 20 SMA gained bearish strength above the current level, and the technical indicators maintain their sharp bearish slopes near oversold readings, in line with further slides for this Wednesday.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Jul 11 16 22:48 ET
Gold prices were on retreat mode this Monday, with spot easing from an early high of $1375.11 a troy ounce down to the current 1,341.50 region, as investors sold the safehaven asset and jumped into stocks on hopes that fresh stimulus is coming, at least from the UK and Japan. The commodity shed roughly 1% this Monday, but in the daily chart, the movement seems just corrective, as indicators retreated sharply from overbought levels, but remain within positive territory, whilst the price holds well above its moving averages that hold their bullish slopes. The 20 SMA in the mentioned time frame, stands at 1,325.45, and it would take some extension below it to consider a change in the dominant bullish trend. In the 4 hours chart, the commodity has a clear double top around the 1,375.10 region, with the low in between at 1,335.15, the postNFP low. Also in this last chart, the price is now below its 20 SMA, whilst the technical indicators head south within negative territory, all of which supports a short term bearish continuation, but is not enough to confirm a longlasting downward move.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Sun Jul 10 16 22:47 ET
Spot gold fell down to $1,335.15 a troy ounce as an initial reaction to a strong US Nonfarm Payroll report, but strong demand for the safehaven assets sent it back higher, with the commodity ending the week at $1366.50 a troy ounce, not far from the over twoyear high set at $1,375.11 earlier last week. Speculation that the FED will remain on hold this year, alongside with the backdrop of negative interest rates in many developed economies, have kept gold running, and will likely persist during the upcoming weeks. Daily basis, the Momentum indicator maintains a strong upward slope, while the RSI consolidates in overbought levels, and the 20 SMA heads sharply higher well below the current level, supporting some further advances for the upcoming sessions. In the 4 hours chart, the price briefly fell below a bullish 20 SMA, but stands now above it, while the RSI indicator heads north around 60 and the Momentum indicator turned higher, but remains within bearish territory, also supporting some further gains, particularly on a break above the mentioned high, now the immediate resistance.
Read more...
 
GOLD - Bullish, Targets Key Resistance Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Jul 10 16 21:43 ET
GOLD - The commodity extended its recovery the past week leaving risk higher in the days ahead. On the downside, support comes in at the 1,355.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,340.00 level. Below here if seen could trigger further downside pressure targeting the 1,330.00 level. Conversely, resistance resides at the 1,370.00 level where a break will aim at the 1,380.00 level. A turn above there will expose the 1,390.00 level. Further out, resistance stands at the 1,400.00 level. Its weekly RSI is bullish and pointing higher suggesting more strength. All in all, GOLD looks to strengthen further in the new week.
Read more...
 
  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  3 
  •  4 
  •  5 
  •  6 
  •  7 
  •  8 
  •  9 
  •  10 
  •  Next 
  •  End 
  • »


JPAGE_CURRENT_OF_TOTAL