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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 | Fri Dec 19 14 04:24 ET
The metal pushed higher yesterday touching 1213.05 before moving back to the downside, but is still limited below above the key resistance of the downside move as showing on graph. Technical indicators are showing weak signals in trading due to the current volatility.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Dec 19 14 04:24 ET
Crude oil achieved a daily closing below 55.60 which support extending the overall downside move that mainly targets 52.10 in the coming period, whereas Linear Regression Indicators are still applying negative pressure that strengthens the bearish expectations. The positivity of RSI and MACD could trigger positive attempts as yesterday, and generally, the overall downside move remains valid unless the price breaches 57.50 and achieves a daily closing above it.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Dec 19 14 00:22 ET
SPOT GOLD closed higher on Thursday as it consolidates some of the decline off last week's high. The midrange close sets the stage for a steady 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 this week's decline, December's low crossing is the next downside target. If it renews the rally off November's low, the 50% retracement level of the MarchOctoberdecline 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 | Thu Dec 18 14 04:53 ET
Levels 1181.85 stood still against the bearish attempts yesterday, and the metal is trading today around the psychological barrier 1200.00 again. The metal should breach 1205.00 to confirm extending the upside move towards 1213.05, and breaching it triggers a new attempt to test 1238.25 then 1263.50.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Dec 18 14 04:53 ET
The price is still fluctuating around the pivotal level 55.60 at 161.9% correction of the upside move starting from 77.20 to 112.21, waiting to break this level again and stabilize below it to confirm extending the overall downside move. Linear Regression Indicators are still negative and keeps the bearish expectations that remains valid unless there is a daily closing above 57.50.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Dec 18 14 00:43 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. If it extends this week's decline, December's low crossing is the next downside target. If it renews the rally off November's low, the 50% retracement level of the MarchOctoberdecline 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 | Wed Dec 17 14 04:21 ET
Dropping below 1200.00 levels yesterday after failing the bullish attempt took the precious metal within the downside range as showing on graph. Despite that, Linear Regression Indicators are showing a positive bias while MACD is showing a negative crossover.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Dec 17 14 04:21 ET
Crude oil is trading around Fibonacci level 161.8% at 55.60 for the upside move measured from 77.20 to 112.21, as 55.60 represent a significant support that determines the move on the long term, whereas breaking it confirms extending the bearish wave targeting 52.10 then 50.00. Linear Regression Indicators are still negative and support extending the downside move in the coming period, which remains valid unless levels 57.50 were breached.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Dec 17 14 00:47 ET
SPOT GOLD closed higher 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 have turned neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends today's decline, December's low crossing is the next downside target. If it renews the rally off November's low, the 50% retracement level of the MarchOctoberdecline crossing is the next upside target.
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Crude Oil Could Be Near The Bottom Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Tue Dec 16 14 22:54 ET
The plunging crude oil prices have been dominating the headlines. It is not just the price collapse itself, but also the wider implications that this has had that have garnered a lot of attention. Among other things, for example, crude’s collapse has helped to fuel a currency crisis in Russia while also weighing heavily on currencies of other oil producing nations such as Canada and Norway. What’s more, it has raised deflation risks across the major economies, especially in the euro area, which is part of the reason why the stock markets have sold off in recent times. Concerns about deflation have also weighed on demand expectations for oil itself, thus sending it in a vicious cycle. Indeed, crude’s drop earlier today was probably a reflection of the concerns about demand from emerging markets in particular: overnight we saw the HSBC’s Chinese manufacturing PMI dipped below the expansion threshold of 50 for the first time in seven months. This followed below-forecast trade and inflation figures last week, raising both growth concerns and expectations about more stimulus measures form the PBOC. In Russia, the central bank hiked interest rates to a whopping 17% as it attempted to halt the Ruble’s colossal collapse. The weaker currency and high rates of interest will likely weigh heavily on economic growth in Russia which in turn may have some negative impact on demand for crude.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Dec 16 14 05:50 ET
The metal dropped sharply yesterday and is trading below 1200.00 weakening the positive expectations. Despite that, we cannot bet now on extending the downside move due to the ongoing trading above Linear Regression Indicator 55 and above the support 1181.85 at 23.6% correction.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Dec 16 14 05:49 ET
Crude oil touched our key awaited target 55.60, where it found a strong support that could lead to interim sideways volatility. Generally, the main downside move remains valid supported by the negativity of Linear Regression Indicators, wait for targets that extends to 54.25 then 52.10. Stability below 58.40 is significant to acheive the extended targets.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Dec 16 14 00:23 ET
SPOT GOLD posted the longest setback in five weeks on Monday due to concerns that the Federal Reserve might be closer to raising U.S. interest rates, crimping demand for the precious metal as an alternative investment. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. Monday's close below the 20day moving average crossing confirms that a shortterm top has been posted. If it renews the rally off November's low, the 50% retracement level of the MarchOctoberdecline 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 | Mon Dec 15 14 05:26 ET
The metal touched around 1213.05 at 38.2% correction as showing on graph and rebounded to the upside. The possibilities of new bullish attempts are valid this week, and the pair will try to move back to the upside to test 1238.25, and breaching it triggers another bullish wave towards 1263.50.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Dec 15 14 05:26 ET
Crude oil touched our main awaited target 57.00 and traded below it with the week opening, and is showing positivity now affected by the positivity of RSI, but the overall negative pressure is still valid on the short and intraday basis waiting to visit 55.60 mainly. Linear Regression Indicators are still negative and support the expected bearishness that remains valid unless the price breached 60.00 and stabilized above it.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Dec 15 14 01:21 ET
SPOT GOLD closed lower 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 bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends the rally off November's low, the 50% retracement level of the MarchOctoberdecline crossing is the next upside target.
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GOLD - Extends Further Strength Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Dec 14 14 22:18 ET
GOLD - With GOLD extending its gains the past week, it faces further bullishness in the new week. However, watch out for a pullback. On the upside, resistance lies at the 1,250.00 level where a break will aim at the 1,280.00 level. A break will target the 1,300.00 level followed by the 1,330.00 level. A cut through here will extend gains towards the 1,350.00 level. On the downside, support stands at the 1,215.00 level where a break will aim at the 1,200.00 level. Below here if seen could trigger further downside towards the 1,180.00 level where a break will aim at the 1,150.00 level. All in all, GOLD remains biased to the downside in the medium term.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Dec 12 14 04:55 ET
The metal dropped yesterday within a bearish correction that started from 50% correction at 1238.25, which is a significant resistance that should be breached to push the price further to the upside. We depend in our positive expectations on stabilizing above 1213.05 to keep the buying positions, especially that Linear Regression Indicators is still positive, and Linear Regression Indicator 34 breached Fibonacci level 38.2% correction.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Dec 12 14 04:54 ET
The downside move still dominates the price and is confirmed after breaking 60.00 to support extending the expected downside move targeting next 57.00. Linear Regression Indicators are negative and strengthens extending bearishness, as breaching 60.00 could delay the suggested downside move and push the price to the upside.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Dec 12 14 00:11 ET
SPOT GOLD closed lower on Thursday. The midrange close sets the stage for a steady opening when Friday'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 extends the rally off November's low, the 50% retracement level of the MarchOctoberdecline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
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