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Energy and Precious Metals Technical Analysis
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Analysis -
Commodity Technical Analysis
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Written by optionsXpress |
Sat Mar 13 10 13:21 ET
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The days of relatively 'cheap' Gasoline prices appear to be ending once again, a byproduct of improving economic conditions tied in with curtailed production. Despite attempts by the Chinese government to dampen its surging economy, energy demand remains robust, with China's oil imports in February coming in at the second highest total in its history! Although U.S. energy demand is still well below the levels seen 3 years ago, Oil prices are stubbornly holding near the $80 per barrel level due to Asian demand.
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Analysis -
Commodity Technical Analysis
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Written by Finotec |
Fri Mar 12 10 05:44 ET
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Crude oil traded above $82 a barrel in New York, poised for a second weekly gain, on optimism fuel demand will recover as China's economic expansion accelerates. Oil was little changed amid expectations the Organization of Petroleum Exporting Countries will increase shipments this month on strong demand from China, the world's second-biggest energy user. China's inflation last month outstripped returns on household savings, threatening to spur asset purchases.
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Analysis -
Commodity Technical Analysis
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Written by India Forex |
Fri Mar 12 10 03:59 ET
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Gold is currently trading at $1112 levels and touched bottom of $1100 yesterday. Immediate support comes near $1100 levels (100 days daily EMA). Initiate buying near this support level with tight stoploss of $1090 levels. (Gold- $1112). (Rangebound).
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Fri Mar 12 10 03:27 ET
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Crude is trading in an ideal manner, according to yesterday's scenario within the minor ascending channel, after targeting its resistance we expect trading to continue naturally within this channel. Therefore, we await a new touch of support that is at 81.70 followed by a bullish rebound achieved through crude's possible ascend over an intraday basis; where first targets are at 82.60, then attempt to breach it to pace the way to achieve the following targets for the short term bullish waves at $84.30 per barrel. Keep in mind that the breach of 81.00 will weaken chances of achieving these expectations.
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Fri Mar 12 10 02:49 ET
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Gold is currently forming the 4th wave inside the first corrective wave 'A' of our detected Elliott sequence that started at 1044.00 as seen on the provided four-hour chart. Chances for reaching 1115.00 zones still exist to complete this forth wave before resuming the downside rally of the suggested Elliott count. Henceforth, potential downside actions could be seen over intraday basis.
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Analysis -
Commodity Technical Analysis
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Written by HY Markets |
Thu Mar 11 10 23:47 ET
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Gold closed higher due to short covering on Thursday but remains below the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the reaction low crossing is the next downside target. Closes above Wednesday's high crossing would temper the near-term bearish outlook in the market.
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Analysis -
Commodity Technical Analysis
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Written by FX Solutions |
Thu Mar 11 10 13:07 ET
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Recent bearish price action on spot gold, a daily chart of which is shown, has prompted a correction back down to the long-term uptrend support line. This bearish correction occurs right after price reached a high of around 1145 just last week. As of Thursday (3/11/2010) morning New York session, price is hovering right around the key trendline.
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Thu Mar 11 10 08:54 ET
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Gold is still moving mildly downwards after the breakout below the uptrend which controlled the movements from 1044.00 as we discussed in the morning report. We still believe that areas of 1114.00 might be retested before resuming the downside move for the rest of the day, supported by our captured bearish harmonic formation 'AB=CD'.
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Thu Mar 11 10 08:51 ET
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Crude pushed upwards to touch resistance for the minor ascending channel within the short term ascending channel. The negative signs appearing on momentum indicators make us expect natural trading within these channels; therefore we await a minor descend to touch 81.50, followed by a bullish rebound to continue the expected bullish intraday direction.
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Analysis -
Commodity Technical Analysis
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Written by ODL Securities |
Thu Mar 11 10 08:39 ET
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Oil continued to trade above $80 following yesterday's weekly inventories. Data showed that crude inventories grew, but analysts are now concerned that as the economic stimulus plans expire, we may see demand falling. Last night's Chinese CPI data came in at 2.7% sparking inflationary fears.
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Analysis -
Commodity Technical Analysis
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Written by ODL Securities |
Thu Mar 11 10 08:35 ET
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Despite The dollar easing, and increased inflationary reports coming out of China last night, gold still managed to tumble back. CPI in China rose to 2.7% in February, and now markets will be factoring in how the Chinese are going to handle rising inflation. Tightening monetary policy, and even interest rate rises are now a factor to watch out for, and it will be interesting to note if gold once again assumes its mantle as hedge against inflation.
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Analysis -
Commodity Technical Analysis
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Written by India Forex |
Thu Mar 11 10 03:19 ET
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Gold : Gold is currently trading at $1109 levels and touched bottom of $1103 yesterday. Immediate support comes near $1100 levels (100 days daily EMA). Initiate buying near this support level with tight stoploss of $1090 levels. (Gold- $1109). (Rangebound).
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Thu Mar 11 10 03:06 ET
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Yesterday's suggested bullish technical pattern was activated, where crude managed to achieve $83.00 per barrel returning to near support for the ascending channel that organizes short term trading. We expect touching support at 80.90 then bullishly rebounding to resume through crude the bullish short term intraday direction; heading once again towards $83.00 per barrel. It is vital that the four hour closing remain above 80.70 to insure achieving these expectations. The MA 200 is shielding the current ascending channel's support.
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Thu Mar 11 10 02:44 ET
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From yesterday's defined level of 1128.00, gold declined sharply activating our previous explained four-hour Elliott count, taking it to the technical objective at 1108.00-check yesterday's report-. Now, the negative harmonic AB=CD structure of the daily charts shows how gold has been able to breach the uptrend line and additional bearishness could be seen over intraday basis. Note that, 1114.00 zones might be tested before resuming the downside rally.
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Analysis -
Commodity Technical Analysis
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Written by HY Markets |
Thu Mar 11 10 00:05 ET
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Gold closed lower on Wednesday and below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends today's decline, the reaction low crossing is the next downside target. Closes above today's high crossing would temper the near-term bearish outlook in the market.
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Wed Mar 10 10 08:51 ET
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Gold is fluctuating within a narrow rang between 1120.00 and 1127.00 zones, while Elliott studies show that it is moving within a corrective wave "4th from A". Thus, we hold on the morning expectations, waiting for a clear bearish sign from the areas shown on the above image.
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Wed Mar 10 10 08:46 ET
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The minor bullish pattern's neckline has been breached at 81.60, where it is supposed to carry crude towards levels around 82.00; placing crude above the neckline mentioned this morning at 81.90. Thus, our morning expectations will remain intact as we await the assurance of the four hour closing above 81.90. It is vital that the daily close remain above 80.70 to achieve these expectations.
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Analysis -
Commodity Technical Analysis
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Written by ODL Securities |
Wed Mar 10 10 08:38 ET
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Ahead of today's weekly inventories, traders appear to have taken some of the recent profits off the table, albeit we remain above the $80 mark. A spate of violent outbreaks in Nigeria has helped to increase concerns about supply from the African nation, but despite demand remaining sluggish, oil has rallied sharply over the past few weeks.
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Analysis -
Commodity Technical Analysis
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Written by India Forex |
Wed Mar 10 10 04:44 ET
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Gold : Gold moved up taking support from $1087 levels and holding above $1100 levels. Buying at dips close to $1100 levels remains the strategy. (Gold- $1126.2). (Rangebound).
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Analysis -
Commodity Technical Analysis
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Written by ecPulse.com |
Wed Mar 10 10 03:13 ET
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After several attempts by crude to hit support for the currently ascending channel, crude strongly pushed upwards to hit into horizontal resistance at 81.90; forming the neckline for the bullish technical pattern, where we expect it to be breached to pave the way to achieve a possible ascend over an intraday basis that will start with the breach of mentioned resistance. However, it is mainly targeting $83.45 per barrel. The suggested scenario will remain intact if the daily close remains above 80.70.
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