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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 | Tue Sep 02 14 04:23 ET
The metal failed to breach 1292.65 levels in an attempt to rise yesterday as showing on graph, which pushed the price to the downside again. But the downside move remained limited around 61.8% correction at 1280.25 levels. Linear Regression Indicator 34 became negative, AROON is negative and MACD failed to remain positive. Therefore, the negative possibility is available.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Sep 02 14 04:23 ET
Oil has stabilized above 95.00 psychological and above 95.25-resistance turned into support- although trading range remains very tight since the opening of this week. We still believe that SMA 20 should offer the support bulls need to reach 97.00 boundaries over intraday basis supported by the positivity on MACD. Eyes are now on 96.00 level as a break of which will ease the path towards target area where bulls may re-test a cluster resistance.
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GOLD - Continues To Face Downside Threats Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Mon Sep 01 14 22:27 ET
GOLD - The commodity may be hesitating but continues to face its broader downside pressure in the medium term. While it trades below the 1,296.40 level, our bias remains lower. Support lies at the 1,270.00 level where a break will expose the 1,257.68 level followed by the 1,230.00 level. A break will target the 1,200.00 level with a violation turning attention to the 1,180.00 level. Below here will expose the 1,160.00 level and then the 1,140.00. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance lies at the 1,285.00 level where a break will target the 1,300.00 level followed by the 1,345.90 level. A cut through here will extend gains towards the 1,360.30 level. And then the 1,380.00 level. All in all, GOLD remains biased to the downside in the nearer term.
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IMM Positioning: Investors Add Net Shorts In EUR And JPY Print E-mail
Analysis | Commodity Technical Analysis | Written by Danske Bank | Mon Sep 01 14 05:46 ET
IMM data released last Friday showed that investors in the week to 26 August added considerable net short positions in EUR and JPY. The move in EUR has sent non-commercial positioning in the single currency to the 5th percentile – the most bearish level since November 2012. In the same way the build in net JPY shorts has sent speculative JPY positioning to the 3rd percentile. In sum, positioning suggests a very high sensitivity of the two currencies to the upside. Therefore, should the ECB disappoint on Thursday, we see potential for a bounce in EUR/USD. However, fundamentally we still expect EUR/USD to edge lower, primarily driven by diverging monetary policy. In addition, the case for a short-term stronger USD has strengthened in recent weeks in light of the strong performance of USD-denominated assets.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Sep 01 14 04:26 ET
The metal traded last week between 61.8% correction from the downside and 50% correction from the upside at 1280.25 and 1292.65 which are the key levels of this week, and trading between them makes the trend unclear. AROON crossed over negatively but is still weak and MACD signal lines are weak and trading above line zero. Linear Regression Indicators are positive but the metal is trading between them.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Sep 01 14 04:25 ET
In our last technical comment on crude, we have defined 95.25 to be the level that will ease the path towards 97.00 with a breakout above it. Actually, bulls succeeded in achieving a convenient daily closing above this level along with a positive crossover on MACD. Meanwhile, we can see how the closing was also achieved above SMA20 and that suggests further strength over upcoming sessions. Finally, 94.50 becomes new defensive level.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Sep 01 14 01:20 ET
SPOT GOLD closed lower on Friday. The midrange close sets the stage for a steady 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. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it extends this month's decline, the reaction low crossing is the next downside target.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Aug 29 14 04:34 ET
The metal is trading slightly below the resistance 1292.65 and failed to stabilize above this level due to failing to breach the resistance 1296.60 yesterday. The upside move weakened as showing on AROON, and Stochastic is showing a bearish bias.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Aug 29 14 04:33 ET
Oil has inclined stabilizing above 94.00 levels and it seems that, the correction has started after building a technical basis. MACD and RSI has turned into positivity and that could assist traders to achieve additional corrections. In result, we will play the correction, while break above 95.00/25 will confirm this positivity aiming to re-test the previous broken trend line.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Aug 29 14 00:25 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 turning neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it extends this month's decline, the reaction low crossing is the next downside target.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Aug 28 14 04:57 ET
The metal traded above 61.8% correction at 1280.25 today and yesterday. Linear Regression Indicators are positive and MACD signal lines are attempting to breach line zero to the upside. The bulish possibility remains valid by stabilizing above 1280.25, but the pair should confirm its ability to breach 1292.65 at 50% correction to confirm extending the upside move.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Aug 28 14 04:54 ET
Crude is trading in a bearish bias after testing SMA 50 and is moving towards the sideways range support residing 92.85. Till now, we remain neutral till the price exits the mentioned range, whether by breaking its support at 92.85 or breach the resistance 94.40, as RSI is moving in neutral areas and is nto supporting any of the moves.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Aug 28 14 00:17 ET
SPOT GOLD closed higher on Wednesday.The midrange close set the stage for a steady 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 this month's decline, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would 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 Aug 27 14 03:43 ET
The metal is trading above 61.8% correction again at 1280.25 as showing on graph, which is close to the key support of the medium-term sideways move. Linear Regression Indicators crossed over positively and MACD is attempting to move to the upside, while AROON is moving to the upside despite being weak.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Aug 27 14 03:42 ET
Oil continued to trade within the recently established sideways range as seen on the provided four-hour chart. Trading between SMA20-green- and SMA50-red- in addition to the unclear signs on technical indicators force us to remain neutral over intraday basis. The clue for bulls resides at 94.60, while the keys for bears resides at 92.80 and 92.40.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Aug 27 14 00:38 ET
SPOT GOLD closed higher on Tuesday. The highrange close sets the stage for a steady 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 this month's decline, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would 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 Aug 26 14 04:00 ET
Gold rebounded to the upside during the Asian trading session today and is trading above 1280.30 as showing on graph. Stability above the referred to level weakens the negative expectations especially that the rebound took place from the bullish support, as we see positive signals on both AROON, MACD and Stochastic.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Aug 26 14 04:00 ET
A doji candlestick pattern was formed yesterday and that reflects the technical hesitation appearing over daily studies. Meanwhile, MACD is gradually showing the ability to overlap positively and RSI14 reflects the oversold case. These signs could bring a recovery over intraday basis, but we will be prudent awaiting for a breakout above 94.00 to long Crude with targets at 95.25/50 where the traders can re-test the broken support. On the downside, coming below 92.80 will negate chances for achieving corrections.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Aug 25 14 23:59 ET
SPOT GOLD closed lower on Monday. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends last week's decline, the reaction low crossing is the next downside target. Closes above the 10day moving average crossing would temper the nearterm bearish outlook.
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IMM Positioning: Sharp Reduction In CAD Longs Print E-mail
Analysis | Commodity Technical Analysis | Written by Danske Bank | Mon Aug 25 14 06:18 ET
IMM data released last Friday reveal that investors have returned to adding bearish EUR positions builds. The bearish EUR sentiment has sent non-commercial positioning in the single currency to the 6th percentile – the most bearish level since November 2012. The stretched positioning indicates a very high sensitivity of EUR to positive news out of the euro-zone. Fundamentally, we still expect EUR/USD to edge lower but emphasise that positioning poses a barrier for rapid moves lower and the downtrend will consequently be gradual.
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