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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 | Mon Apr 27 15 23:54 ET
SPOT GOLD closed lower on Friday renewing the decline off April'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 are neutral to bearish signalling that sideways to lower prices are possible nearterm. Today's close below last Tuesday's low crossing confirms that a shortterm top has been posted while opening the door for a test of March's low crossing later this spring. Closes above the 20day moving average crossing at would confirm that a low has been posted.
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Gold And Silver Surge Higher Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Mon Apr 27 15 22:26 ET
Precious metals have staged a sharp, unexpected, rally today. Gold hit an intraday low of around $1178 before climbing to a high so far of $1204. That is a jump of $26 or 2.2 per cent. Characteristically, silver's upsurge has been even more pronounced with the grey metal having already climbed 4.9 per cent off its low. So, what is going on? Much has been said about the risks of Greece exiting the euro zone lately. Yet, while the equity markets have, from time to time, responded to these concerns, there have been hardly any reaction from the precious metals in this regard. In fact, both metals are still significantly below their respective highs achieved earlier in the year; in the meantime, 'Grexit' worries have increased by many folds. Why then all of a sudden should the metals find safe haven demand? After all, much of the Grexit risks appear to be a concern for domestic investors, with Greek bond yields rising and equity markets falling. In contrast, most of the European stock markets are hovering near fresh multi-year highs while some indices (including the DAX and FTSE) have hit repeated all-time highs this year. In other words, gold's upsurge today cannot be solely explained by increased worries over Greece. In fact, Grexit worries may have receded somewhat, as evidenced for example by a drop in Greek bond yields this afternoon when news emerged that Greece has reshuffled its team responsible for negotiating debt structuring with the IMF and EU. If the news is correct, it means Finance Minister Yanis Varoufakis would be withdrawn from the front line of discussions and the hope is that this will help accelerate the progress from here.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Apr 27 15 06:49 ET
Oil price rose again to trade above 127.2% Fibonacci level located at 57.35 – 57.20. Trading above the aforesaid level will cause more bullishness toward 60.00, while breaching 60.00 level will accelerate the bullishness toward 61.45 Fibonacci 161.8% golden ratio.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Apr 27 15 06:49 ET
Gold price is trading around 1181.60 support level; trying to beach it. Trading below 1181.60 will take down the price toward 1164.00 and may be 1150.00. Any trading below 1205.00 should be considered negative, however, we prefer to see the price below 1190.00 to confirm the bearish view
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GOLD - Remains Weak And Vulnerable Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Apr 26 15 22:04 ET
GOLD - With GOLD declining the past week, it faces further downside pressure in the new week. However, it will have to overcome the 1,178.39 level convince the market of further weakness. Support comes in at the 1,170.00 level where a break will aim at the 1,150.00 level. A cut through here will open the door for move lower towards the 1,130.00 level. Below here if seen could trigger further downside pressure towards the 1,100.00 level and then the 1,080.00 level. On the upside, resistance resides at the 1,190.00 level where a break will aim at the 1,200.000 followed by the 1,215.00 level. A violation of here will turn attention to the 1,225.00 level followed by the 1,150.00 level. All in all, GOLD remains biased to the downside medium term but faces corrective recovery threats at the 1,178.39 level.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Apr 24 15 05:28 ET
Gold has moved to the upside, still, the price is trading below the main down trend line and below 1205.00 Fibonacci resistance as the image above shows. Trading below 1205.00 will keep the bearishness probability, on the other hand, breaching down 1181.00 – 1180.00 support is needed to confirm our bearish view.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Apr 24 15 05:28 ET
Oil price rose again to trade above 127.2% Fibonacci level located at 57.35 – 57.20. Trading above the aforesaid level will cause more bullishness toward 60.00, while breaching 60.00 level will accelerate the bullishness toward 61.45 Fibonacci 161.8% golden ratio.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Apr 23 15 23:51 ET
SPOT GOLD closed higher due to short covering on Thursday while extending the trading range of the past eightdays. The highrange close sets the stage for a steady to higher 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. Closes below last Tuesday's low crossing would confirm that a shortterm top has been posted. If it renews the rally off March's low, the 62% retracement level of the JanuaryMarchdecline crossing is the next upside target.
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GOLD - Maintains Bearish Bias, Eyes Key Support Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Thu Apr 23 15 22:47 ET
GOLD - With GOLD selling off sharply on Wednesday, further bearishness is expected though presently seen hesitating. Support comes in at the 1,178.39.00 level where a break will aim at the 1,165.00 level. A cut through here will open the door for move lower towards the 1,150.00 level. Below here if seen could trigger further downside pressure towards the 1,130.00 level and then the 1,100.00 level. On the upside, resistance resides at the 1,200.00 level where a break will aim at the 1,215.000 followed by the 1,224.00 level. A violation of here will turn attention to the 1,250.00 level followed by the 1,170.00 level. All in all, GOLD maintains bearish bias as it eyes its key support.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Apr 23 15 05:04 ET
Gold price declined yesterday after failing breach 1205.00 -1207.00 resistance level. Trading below 1205.00 will be considered negative from now on, while trading below 1198.00 is more negative. Linear regression indicator is declining now, moreover, RSI14 indicator trading negatively. Therefore, we expect more bearishness today. Breaching down 1181.60 is needed to confirm bearishness over the intraday trading.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Apr 23 15 05:03 ET
Once again, Crude oil crude oil could not achieve stabilize trading above 127.2% Fibonacci level located at 57.10 and declined. RSI14 showing a negative divergence, moreover, MACD indicator signal lines are declining. Therefore, we should expect a downside correction today as long as the price trades below 57.10. We should remember that Crude Oil price still trading inside an upside trend. Therefore, we only expect a correctional movement.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Apr 23 15 01:12 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 neutral to bearish signalling that sideways to lower prices are possible nearterm. Closes below last Tuesday's low crossing would confirm that a shortterm top has been posted. If it renews the rally off March's low, the 62% retracement level of the JanuaryMarchdecline crossing is the next upside target.
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Are Gold Bears Starting To Wake from Hibernation? Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Apr 22 15 21:08 ET
It's been a very quiet couple of weeks for gold bears, with the yellow metal merely marking time around the 1200 level since the start of the month. Since April Fool's Day, gold has traded as low as 1180 and as high as 1220, but the trading range has been contracting, creating a clear symmetrical triangle pattern on the 4hr chart. As we've noted before, this pattern is analogous to a person compressing a coiled spring: as the range continues to contract, energy builds up within the spring. When one of the pressure points is eventually removed, the spring will explode in that direction. The metal is testing the bottom of the pattern today as a stronger-than-expected US housing report and rising stocks dampens demand for the safe-haven asset.
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Crude Stocks Rise For 15 Consecutive Weeks Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Wed Apr 22 15 21:06 ET
Crude oil was trading mixed first thing this morning with Brent being a touch higher and WTI trading almost unchanged after starting the day in the negative territory. Yesterday, oil prices fell sharply to mark the first down day in seven for WTI. This came on the back of a renewed sharp increase in US crude stocks to the tune of 5.5 million barrels, as reported by the American Petroleum Institute (API) last night. Brent’s slight gains today were in part due to the continued supply-side risks stemming from the Middle East after Saudi Arabia resumed bombing Houthi rebels in Yemen, despite announcing yesterday that it had ended its military campaign against them.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Apr 22 15 05:17 ET
Gold price traded with some positivity yesterday, however, the price still trading between 1207.00 and 1190.00 since the last week. Trading below linear regression indicator 34 considered negative, on the other hand, RSI14 indicator is positive now. MACD indicator showing a very weak trading. Therefore, we prefer to stay neutral today.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Apr 22 15 05:16 ET
Crude oil declined yesterday, failing maintain trading above 127.2% Fibonacci level. Although trading below 57.10 minimize the probability of more bullishness, the price still trading inside an up channel as we can see on the image above. Moreover, the price is trading above 55.60 level.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Apr 21 15 23:52 ET
SPOT GOLD posted an inside day with a higher close 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 neutral signalling that sideways to lower prices are possible nearterm. Closes below last Tuesday's low crossing at 1183.50 would confirm that a shortterm top has been posted. If it renews the rally off March's low, the 62% retracement level of the JanuaryMarchdecline 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 21 15 06:16 ET
Gold price fell yesterday after failing breach 1207.00 resistance level. Although MACD indicator still showing weak signals, we can expect more bearishness today toward 1181.60 support level. Breaching down 1181.60 may cause a sharp decline, while trading below 1207.00 is needed to keep the bearish expectation valid.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Apr 21 15 06:16 ET
Crude oil rose sharply as expected yesterday, and achieved trading above 127.2% Fibonacci resistance located at 57.10. Trading above the previously mentioned level will push the price higher toward 161.8% Fibonacci level located at 60.75.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Apr 21 15 00:03 ET
SPOT GOLD closed higher due to short covering on Friday. The midrange close sets the stage for a steady to higher opening when Monday'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 March's low, the 62% retracement level of the JanuaryMarchdecline crossing is the next upside target.
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