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Energy and Precious Metals Technical Analysis
Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Sep 22 14 03:55 ET
The metal continued moving to the downside last week and is trading today close to the support 1211.90 and 1205.00. The referred to support will be the significant interval for the price this week, and trading below it extends the downside move.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Sep 22 14 03:54 ET
Crude is under negative pressure affected by a technical bearish pattern showing on graph above, whereas stability below 91.75 confirms extending the effect of the pattern and indicates further bearishness towards the next target 85.55. On the other hand, the price should break 90.70 to confirm easing the way towards the expected bearishness supported by Stochastic and SMA 50 and 100. Therefore, the downside move is expected by stabilizing below 93.60 and the significant 94.80 levels.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Sep 22 14 00:30 ET
SPOT GOLD closed lower on Friday. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the 87% retracement level of the DecemberMarchrally 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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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Sep 19 14 04:59 ET
Gold has found some kind of support near our previous suggested technical target at 1211.00, but this rebound isn’t strong enough to suggest reversal. Trading between 1211.00 and 1240.00 forces us to be neutral over intraday basis. Coming below 1211.00 will be a negative indication and would bring a re-test of 1180.00 support.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Sep 19 14 04:58 ET
Oil retraced aggressively from 95.25 regions and it is currently trading below 92.50 support. RSI14 has been resisted at the value of 50.00 and that could send prices lower to re-experience 90.40/90.00 regions. To summarize this, we will be bearish today.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Sep 19 14 01:09 ET
SPOT GOLD closed higher on Thursday. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the 87% retracement level of the DecemberMarchrally 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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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Sep 18 14 04:12 ET
Gold slide nearing our suggested technical objectives at 1211.00 as seen on the provided daily chart. This target represents a very sensitive zone where we may witness huge fluctuation; thereby, we see risk versus reward ratio inappropriate. The important levels to be watched out are 1211.00 and 1240.00, as a break below 1211.00 will open the door towards 1180.00, while coming above 1240.00 will bring strong correction.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Sep 18 14 04:12 ET
Strong resistance areas at 95.00 have limited yesterday’s bullish attempts sending prices lower towards 92.50 once again. Actually, 92.50 is also a strong support and trading between these levels forces us to remain neutral, as risk versus reward ratio is still too high.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Sep 17 14 23:57 ET
SPOT GOLD closed lower on Wednesday and has renewed the decilne off July's high. The lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the 87% retracement level of the DecemberMarchrally 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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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Sep 17 14 04:05 ET
The metal failed yesterday to stabilize above the previous bottom 1240.22 and remained below it. Linear Regression Indicators are still negative, and despite that AROON is showing weakness in the bearish strength, the indicator is still showing that negativity is stronger than the positive signals.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Sep 17 14 00:15 ET
SPOT GOLD closed higher due to short covering on Tuesday as it consolidated some of the decline off July's high. The midrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the 87% retracement level of the DecemberMarchrally 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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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Sep 16 14 03:39 ET
The bullish attempts remained limited below 1240.22 which represent a previous bottom that turned now to resistance. Stability below the referred to level brings back the negative possibility especially that Linear Regression Indicator 34 is close to it. Despite the weakness in the bearish strength as showing on AROON, it doesn't affect extending negativity.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Sep 16 14 03:38 ET
Yesterday, we preferred to stay aside due to trading with a neutral zone between 90.50 and 92.50. But, prices have inched higher, achieving convenient daily closing above 92.50 along with long white candlestick as seen on the provided daily chart. This incline may confirm the potential positive divergence on MACD, which we will use to be bullish on oil over intraday basis. Of note, a break above SMA20 will confirm and accelerate the bullish recovery.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Sep 16 14 00:14 ET
SPOT GOLD closed higher on Monday. The midrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends the rally off July's low, the December 2012 high crossing is the next upside target.
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IMM Positioning: Profit Taking In EUR And JPY Shorts While GBP Long Builds Print E-mail
Analysis | Commodity Technical Analysis | Written by Danske Bank | Mon Sep 15 14 05:08 ET
IMM data released last Friday revealed that investors slashed net EUR shorts for the first time in four weeks. The move is probably a reflection of profit taking in light of the recent EUR/USD move lower sparked by the surprising ECB rate cut.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Sep 15 14 04:06 ET
The metal dropped touching levels around 1226.60 with the beginning of the week, which represent a significant technical target showing above represented in 113% correction. The referred to level is considered an interval for the price this week and will determine whether the metal will correct to the upside or continue with its downside move.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Sep 15 14 04:05 ET
After achieving a short-lived upside correction, oil has moved again to the downside after being resisted at SMA20 as seen on the provided daily chart. MACD has turned bearish, while RSI 14 is neutral near oversold territories. Hence, we prefer to be neutral awaiting for clearer signs to pinpoint the next big moves. Finally, there are two important levels to watch this week at 90.50 and 92.50.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Sun Sep 14 14 23:51 ET
SPOT GOLD closed sharply lower on Friday extending the decline off August's high. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this week's decline, August's low crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Sep 12 14 03:44 ET
The metal dropped yesterday and is trading below the previous bottom 1240.22. Stability below the referred to level strengthens the bearish possibilities towards the awaited target 1226.60 represented in 113% correction. A break below the latter extends the downside move towards 127.2% correction at 1211.90.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Sep 12 14 02:29 ET
After approaching our short-term suggested technical target at 90.00, oil has soared achieving a daily closing above 92.50 regions along with long white candlestick pattern. This incline has offered positive signs on MACD and RSI. Thereby, we believe that, more recovery is underway over intraday basis. A break above 0.9300 will accelerate the bullish recovery.
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