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Energy and Precious Metals Technical Analysis
Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Oct 21 14 04:36 ET
Crude oil is still stable below the descending channel support , and Linear Regression Indicators are still providing negative signals keeping the downside move valid till now targeting next 81.10 then 80.00. Extending the downside move depends on stability below 83.35.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Oct 21 14 04:35 ET
The metal is trading positively as expected in our previous reports, and benefited from stabilizing above 38.2% correction at 1236.15 showing above. Stability above the referred to level is positive as it favors to extend the upside move towards 61.8% correction at 1269.15 levels.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Oct 21 14 01:36 ET
SPOT GOLD closed higher on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 38% retracement level of thedecline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Gold Chipping Away At Key Resistance As Safe Haven Demand Grows Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Mon Oct 20 14 22:33 ET
Gold has now risen for two straight weeks after bouncing off the technically-important $1180/85 area at the start of the month. For a time last week, the metal was up a good $65 from that low ($1183), representing a gain of 5.5 per cent. Although gold’s rally faltered somewhat at the end of last week – undoubtedly due to the stronger dollar and the kick-back rally we saw in the stock markets, which reduced the demand for safety – the metal nevertheless remained near the highs and is up once again today. Gold’s resilience here not only points to more gains, it also suggests that the stock market recovery could be short-lived otherwise the need for the safe have asset would have surely been less. The rising price of gold has been matched with increased bullish speculation. According to the CFTC, net long positions in the week to 14 October climbed by 12,333 contracts. At 42,196, net longs were at their highest level in 5 weeks. Meanwhile ETF inflows have likewise risen in response to the plunging equity markets.
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IMM Positioning: Speculators Add To Record USD Bullish Bets Print E-mail
Analysis | Commodity Technical Analysis | Written by Danske Bank | Mon Oct 20 14 05:14 ET
The latest IMM data covers the week from 7 October to 14 October 2014. Note: when reading this week's IMM Positioning, please take into account the significant sell-offs and market movements experienced after the coverage period of this week's IMM report.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Oct 20 14 04:20 ET
Crude oil is still stable below the previously broken support of the descending channel keeping the downside move valid on the short and intraday basis targeting 82.10 then 80.00 mainly. Linear Regression Indicators are still supporting the suggested bearish wave that remaines valid unless the price breaches 83.45 then 85.45 levels.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Oct 20 14 04:19 ET
Despite that the bullish wave stopped last Thursday and Friday, the metal remained stable above 38.2% correction most of the time at 1236.15 showing above. Trading above the referred to level is positive and could trigger further bullish attempts. Linear Regression Indicators and MACD are positive. RSI is trading above line 50 which forces us tothink that the price will try moving to the upside this week to test 1269.15.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Oct 20 14 00:45 ET
SPOT GOLD closed lower on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 38% retracement level of the JulyOctoberdecline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Oct 17 14 04:29 ET
The metal moved slightly to the downside yesterday but is still above 1236.15. Trading above the referred to level at 38.2% correction forces us to keep our positive expectations targeting 1269.15 and 1253.00 at 61.8% and 50% corrections consecutively. Linear Regression Indicators are positive, MACD and RSI tend to be positive forcing us to bet on an upside move.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Oct 17 14 03:18 ET
Crude oil is still stable below the previously broken descending channel support turning to resistance now at 83.45, while Linear Regression Indicators are still providing negative signals that support extending the bearish bias in the coming period. Hence, the downside move remains valid targeting next 80.00 and extends to 77.20.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Oct 17 14 00:17 ET
SPOT GOLD closed higher on Thursday. The midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 38% retracement level of the JulyOctoberdecline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Crude Oil Stages Short-Covering Bounce Despite Bearish Oil Report Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Thu Oct 16 14 22:30 ET
The price of WTI crude oil this morning fell below the key $80.00 for the first time since June 2012. However it has bounced back sharply from there and not even a bearish-looking oil report could halt the comeback. The Energy Information Administration (EIA) data showed crude stockpiles in the US climbed by a much larger than expected 8.9 million barrels last week, while gasoline inventories decreased by a good 4 million barrels and distillate stocks also fell slightly.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Oct 16 14 04:56 ET
The metal inched higher and stabilized above 38.2% correction at 1236.15. Trading above the referred to level is positive and could push the price towards 61.8% correction at 1269.15. Linear Regression Indicators and MACD are postiive forcing us to think that the upside move is possible today.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Oct 16 14 04:56 ET
Crude stabilized close to 80.00 and Linear Regression Indicators are still applying negative pressure, while MACD is still providing negative signals that encourage us to keep our bearish bias expectations waiting to move towards the next targets around 77.20. The downside move remains valid as long as the price stabilizes below 83.55.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Oct 16 14 00:14 ET
SPOT GOLD closed higher on Wednesday. The highrange close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 38% retracement level of the JulyOctoberdecline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Oct 15 14 04:41 ET
The price continued moving sharply to the downside after retesting 85.45 yesterday, whereas the effect of the weak global demand and rising oil supplies Yesterday's drop pushed the price towards the second main target 81.20, as we see signals of extending the bearish bias in the coming period by stabilizing below 85.45 targeting 77.20. MACD is providing a negative signal that support extending the bearish bias on the short term.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Oct 15 14 04:40 ET
The metal failed to breach the resistance 1236.15 at 38.2% correction and stabilize above it, which represent a very significant resistance that should be breached to confirm extending the upside move. Trading below the referred to level forces us to move to the sidelines for a while, in light of the ongoing positive signal from Linear Regression Indicators, but MACD and RSI won't be confirming that.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Oct 15 14 00:14 ET
SPOT GOLD closed lower on Tuesday. The lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 38% retracement level of the JulyOctoberdecline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Crude Oil Takes Another Nose Dive Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Tue Oct 14 14 22:14 ET
Things have gone from bad to worse for oil. At the time of writing this Tuesday afternoon, the Brent oil contract is trading near the day's low around $86.50 while WTI is hovering nearly three bucks lower around $83.60. Severe selling pressure is being exerted on both oil contracts and it is difficult to predict where prices will bottom out with OPEC members Saudi Arabia and Kuwait both playing down the possibility of the cartel reducing its output.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Oct 14 14 04:11 ET
The metal soared facing around the resistance 1236.15 at 38.2% correction as showing above. A break above the referred to resistance is significant to confirm extending the upside move towards 50% and 61.8% corrections consecutively. MACD and RSI are positive and Linear Regression Indicators crossed over positively forcing us to think that the upside move is available today.
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