Oil N' Gold - Resources for Serious Traders
Energy and Precious Metals Technical Analysis
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Mar 28 17 01:44 ET
Spot gold closed the day higher at $1,255.78 a troy ounce after peaking at a fresh 1-month high of 1,260.95, retreating in US trading hours as risk aversion eased partially, but with the dollar anyway beaten by the Obamacare repeal bill's failure. With two more US Fed rate hikes priced in, the commodity seems poised to extend its recovery, as the FOMC no longer weighs on gold while political woes seem to be only beginning across the world. The daily chart for the commodity shows that the price managed to extend above its 200 DMA for the first time since late October 2016, while technical indicators have barely lost their upward strength within overbought territory, rather reflecting diminishing volumes at the end of the day than suggesting upward exhaustion. In the shorter term and according to the 4 hours chart, the risk remains towards the upside, as the price is well above a bullish 20 SMA, now the immediate dynamic support at 1,248.95, whilst technical indicators have resumed their advances within positive territory after correcting overbought conditions.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Mar 27 17 00:54 ET
Spot gold closed the week with gains at $1,243.59 a troy ounce, marginally lower on Friday, despite dollar and stocks' decline. The bright metal trimmed its intraday gains on the last day of the week, following the late bounce in US stocks, and after failing to advance beyond its weekly high. Gold peaked at $1,253.20 a troy ounce on Thursday, after the US Congress announced the delay in the vote of the healthcare reform bill. Still, the commodity retreated sub-1,250.00, a major psychological level that gold seems unable to surpass. Technically, the daily chart shows that the commodity closed with a doji for a third consecutive day in-a-row, below and also below its 200 DMA. In the same chart, the Momentum indicator maintains a bullish slope within positive territory, whilst the RSI indicator consolidates around 61, as the price stands well above its 20 and 100 DMAs, all of which limits chances of a steeper decline, particularly as the market has already digested the fact that the US Federal Reserve will likely raise rates two more times this year and that is no longer a key factor in price´s action. In the 4 hours chart, the price settled below its 20 SMA, whilst the Momentum indicator entered bearish territory, and the RSI indicator pulled back sharply from overbought readings, supporting a short term downward corrective move on a break below 1,240.93 Friday's low and the immediate support.
Read more...
 
GOLD - Bullish, Eyes Further Upside Pressure Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Mar 26 17 21:57 ET
GOLD - The commodity closed higher the past week leaving risk of more strength on the cards. But we may a correction lower occurring. On the downside, support comes in at the 1,240.00 level where a break will turn attention to the 1,230.00 level. Further down, a cut through here will open the door for a move lower towards the 1,220.00 level. Below here if seen could trigger further downside pressure targeting the 1,210.00 level. Conversely, resistance resides at the 1,260.00 level where a break will aim at the 1,270.00 level. A turn above there will expose the 1,280.00 level. Further out, resistance stands at the 1,290.00 level. All in all, GOLD looks to strengthen further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Mar 24 17 00:58 ET
Gold prices' advance extended for a sixth consecutive day, as investors continued trading against the greenback. Spot reached a daily high of $1,253.20 a troy ounce, its highest February 28th before pulling back to end the day flat at 1,242.70. The retracement came as a consequence of sharp declines in many other metals, and as the Dollar Index posted a modest recovery, alongside with US Treasury yields. Investors are now waiting for the US Congress decision over the healthcare bill to decide whether to keep buying the commodity or not. In the meantime, the daily chart shows that the price was unable to settle above the 200 DMA, but continues pressuring it for a third consecutive day. The Momentum indicator in the mentioned chart continues heading north well above the 100 level, whilst the RSI indicator turned flat around 62, indicating fading buying interest, although not enough to confirm a bearish correction from current levels. In the 4 hours chart, the price holds above a strongly bullish 20 SMA, whilst technical indicators are retreating from overbought levels, still well above their mid-lines. A downward corrective move can extend down to 1,230.00 without affecting the bullish trend, but a break below this last will turn the risk towards the downside.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Mar 22 17 23:53 ET
Gold prices kept rallying this Wednesday, with spot reaching a fresh 1-month high of $1,25.24 a troy ounce, to settled around 1,249.75. The commodity advanced for a fifth consecutive day, backed by a decline in high-yielding assets, although gains were moderated considering the slump in worldwide equities. A weaker dollar alongside with falling yields and increasing risk aversion, supported the metal. From a technical point of view, the daily chart shows that technical indicators have extended their advances, maintaining their upward momentum now near overbought readings, whilst the price has settled above a still bearish 200 DMA for the first time since last October, supporting some further advances up to 1,263.79, February high. Shorter term, and according to the 4 hours chart the risk is also towards the upside, as technical indicators have resumed their advances within overbought territory, whilst the 20 SMA accelerated its advance below the current level, after surpassing the 100 and 200 SMAs.
Read more...
 
GOLD - Bullish, Risk Remains Higher On Further Strength Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Wed Mar 22 17 22:21 ET
GOLD - The commodity looks to recover further higher. On the downside, support comes in at the 1,240.00 level where a break will turn attention to the 1,230.00 level. Further down, a cut through here will open the door for a move lower towards the 1,220.00 level. Below here if seen could trigger further downside pressure targeting the 1,210.00 level. Conversely, resistance resides at the 1,260.00 level where a break will aim at the 1,270.00 level. A turn above there will expose the 1,280.00 level. Further out, resistance stands at the 1,290.00 level. All in all, GOLD looks to strengthen further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Mar 21 17 23:02 ET
Spot gold jumped to a fresh 3-week high of $1,247.54 a troy ounce, to settle at 1,244.60 by the end of the US session, as the dollar index plunged to its 99.42, its lowest since February 2nd, while the American currency weakened against most of its major counterparts. Further fueling the advance during US trading hours was Wall Street's slump, with the DJIA down over 200 points. Gold's daily chart presents a bullish stance, as the price held above its 20 SMA on an early slide, while technical indicators maintain upward slopes within positive territory, and particularly the RSI indicator anticipates some further gains, heading north around 63. Still the rallied stalled right below a bearish 200 DMA, currently the immediate resistance at 1,249.25. Above it, the bright metal has scope to retest February high of 1,263.79. Technical readings in the 4 hours chart support an upward continuation as the 20 SMA has extended its advance above the 100 and 200 SMAs, whilst technical indicators continue heading north, easing partially after reaching overbought readings.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Mar 20 17 23:18 ET
Gold prices edged higher this Monday, with spot settling at $1,234.12 a troy ounce, its highest settlement for this March. Prices for the commodity held firm, underpinned by a US Fed that's in no rush to raise rates and political uncertainty in the EU. A light macroeconomic calendar kept volumes low, but the commodity managed to recover above the 1,230.10 level, the 23.6% retracement of the December/February rally, now the immediate support. In the daily chart, the metal has also surpassed its 20 DMA, whilst technical indicators have extended their recoveries, now heading modestly higher within neutral territory. The 200 DMA stands at 1,249.25 a critical mid-term dynamic resistance as the indicator has rejected advances since early November 2016. Shorter term, and according to the 4 hours chart, the commodity has room to advance further, as the20 SMA has accelerated north below the current level, having already crossed above the 100 SMA and about to cross the 200 SMA, whilst the RSI indicator consolidates around 68 and the Momentum indicator turned flat above its 100 level, after correcting extreme overbought conditions.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Mar 20 17 00:25 ET
After a 2-week decline, gold prices recovered this past one, with spot settling at $1,229.05 a troy ounce, up 2.4% for the week, underpinned by Fed's decision to maintain its rate-hike pace unchanged, which weakened the greenback against all of its major rivals. The bright metal consolidated on Friday, holding within the upper end of Thursday's range, but unable to breach the weekly high of 1,233.62, somehow indicating fading buying interest. In the daily chart, the commodity closed the day around a horizontal 20 DMA and slightly below a major Fibonacci resistance at 1,230.10, whilst technical indicators have lost upward strength, although the RSI stands at 54, this last limiting the bearish potential. In the 4 hours chart, the 20 SMA maintains a strong bullish slope below the current level, whilst technical indicators hold within overbought territory with no signs of turning lower, in line with the longer term perspective.
Read more...
 
GOLD - Bullish, Risk Points Higher Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Mar 19 17 20:52 ET
GOLD - The commodity took back its previous week losses to close higher the past week. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Conversely, resistance resides at the 1,235.00 level where a break will aim at the 1,245.00 level. A turn above there will expose the 1,255.00 level. Further out, resistance stands at the 1,270.00 level. All in all, GOLD looks to strengthen further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Mar 16 17 23:49 ET
Gold prices continued advancing this Thursday, with spot reaching $1,233.62 a troy ounce, to settle at 1,226.60. The sharp advance in the commodity came after the US Federal Reserve indicated that they won't accelerate the pace of tightening. Gains were contained by increasing optimism after Dutch elections that fueled demand for higher yielding assets. The daily chart for the commodity shows that the price settled below its 20 DMA and a Fibonacci resistance, the 23.6% retracement of the latest daily bullish run at 1,230.10, holding also far below a bearish 200 DMA, currently at 1,250.65. This last, capped February's rally. In the same chart, technical indicators have extended their recoveries, with the Momentum still below the 100 level and the RSI at 53. In the 4 hours chart, the price is struggling around the 100 and 200 SMAs, both converging around 1,227.00, while technical indicators have turned modestly lower, still holding within overbought territory. Should the price extend beyond the mentioned 1,230.10, the risk turns towards the upside for this Friday.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Mar 16 17 07:33 ET
Gold prices attempted to advance this Tuesday, but were unable to sustain tepid intraday gains, with spot ending the day pretty much unchanged at $1,202.80 a troy ounce. The bright metal held steady as investors wait for the Fed's monetary policy meeting outcome, currently trapped between in a rock and a hard place, as opposing to Fed's decision to raise rates, which should result in the metal plunging, is the underlying political risk surrounding Europe and the US, something that usually benefits gold. Physical demand in India remains subdued, with prices down for fifth consecutive day in the country amid sluggish industrial demand. From a technical point of view, the risk is towards the downside, as the commodity posted a lower low and a lower high daily basis, whilst the 20 DMA keeps gaining bearish strength far above the current level and technical indicators in the daily chart remain near oversold readings, although lacking directional strength. In the 4 hours chart, the price kept hovering around a horizontal 20 SMA, whilst technical indicators have turned sharply lower after entering positive territory, with the RSI anticipating some further declines as the indicator stands at 41. The immediate support is the 50% retracement of the latest daily bullish run at 1,193.00, the level to break to confirm additional slides during the upcoming sessions.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Mar 14 17 23:42 ET
Gold prices attempted to advance this Tuesday, but were unable to sustain tepid intraday gains, with spot ending the day pretty much unchanged at $1,202.80 a troy ounce. The bright metal held steady as investors wait for the Fed's monetary policy meeting outcome, currently trapped between in a rock and a hard place, as opposing to Fed's decision to raise rates, which should result in the metal plunging, is the underlying political risk surrounding Europe and the US, something that usually benefits gold. Physical demand in India remains subdued, with prices down for fifth consecutive day in the country amid sluggish industrial demand. From a technical point of view, the risk is towards the downside, as the commodity posted a lower low and a lower high daily basis, whilst the 20 DMA keeps gaining bearish strength far above the current level and technical indicators in the daily chart remain near oversold readings, although lacking directional strength. In the 4 hours chart, the price kept hovering around a horizontal 20 SMA, whilst technical indicators have turned sharply lower after entering positive territory, with the RSI anticipating some further declines as the indicator stands at 41. The immediate support is the 50% retracement of the latest daily bullish run at 1,193.00, the level to break to confirm additional slides during the upcoming sessions.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Mar 14 17 04:54 ET
Spot gold closed the day marginally lower at $1,204.10 a troy ounce this Monday, failing to sustain early gains, as the commodity traded as high as 1,211.13 due to broad dollar weakness. Different risk events, including Dutch elections, the US Federal Reserve meeting, and the possibility of UK's May triggering the Art. 50 of the Lisbon Treaty, were not enough to fuel demand for the safe-haven asset, as bulls are side-lined on a possible rate hike in the US this Wednesday. From a technical point of view, the daily chart shows that the price retreated from around the 38.2% retracement of the December/February rally, whilst technical indicators keep heading south near oversold readings, maintaining the risk towards the downside. In the 4 hours chart, the price settled around its 20 SMA, whilst technical indicators remain horizontal, the Momentum around its 100 level and the RSI indicator around 40. The 50% retracement of the mentioned rally stands at 1,193.00, still the main support and the level to break to confirm additional slides during the upcoming sessions.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Sun Mar 12 17 23:49 ET
Spot gold ended the week at $1,204.26 a troy ounce, sharply lower for a second consecutive week. The commodity bounced from a fresh multi-week low of 1,194.94 achieved early Friday on hopes the US Federal Reserve will raise rates as soon as this Wednesday. The recovery was triggered by bargain buying aligned around 1,200.00, later extending on news ECB´s Government Council discussed how to begin the process of tapering its facilities' programs. The daily chart shows that the commodity pared losses after nearing the 50% retracement of its December/January advance at 1,193.00, while also managed to settle above a bearish 100 DMA after briefly falling below it, this last at 1,197.10. In the same chart, technical indicators have pared losses, but the Momentum indicator holds well below its 100 level whilst the RSI indicator stands at 35, both indicating that further gains are still unlikely. The immediate resistance is the 38.2% retracement of the mentioned advance at 1,209.50. In the 4 hours chart, technical indicators corrected extreme oversold conditions, now heading higher, but within bearish territory, whilst the 20 SMA maintains a strong bearish slope right above the current level, indicating a limited upward scope at this point.
Read more...
 
GOLD - Bearish But With Risk Of Correction Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Mar 12 17 22:42 ET
GOLD - The commodity closed lower the past week but it looks to trigger corrective recovery. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 level. All in all, GOLD looks to weaken further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Mar 10 17 01:04 ET
Gold prices remained under pressure, with spot trading as low as $1,201.40 a troy ounce and settling a few cents above the 1,204.00 threshold, its lowest settlement in over a month. Gold prices have fallen seven out of the last eight days, on speculation the US Federal Reserve will raise its benchmark rates as soon as next Wednesday. Adding to the bearish case of the bright metal, was low physical demand from Indian jewelers. The daily chart for the commodity shows that it extended its slide below the 38.2% retracement of the latest recovery at 1,209.75, the immediate resistance, whilst the price has moved further below the 20 and 200 DMAs. The 100 DMA offers an immediate support at 1,197.30, while technical indicators have partially lost their bearish strength near oversold readings, but are far from indicating downward exhaustion. In the shorter term, the 4 hours chart shows that technical indicators have turned flat within oversold territory, but also that the 20 SMA has accelerated its decline above the current level, and after extending below the 100 and 200 SMAs, supporting additional declines for this Friday.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Wed Mar 08 17 23:12 ET
Spot gold fell to $1,206.55 a troy ounce, its lowest in five weeks, to close the day around $1,209.60. News that the US private sector added far more jobs than expected last month reinforcing the case of a rate hike next week. The commodity has now retraced the 38.2% of the December/February recovery, and remains biased lower according to technical readings, with the next relevant support at 1,197.80, the 100 DMA. In the daily chart, technical indicators present sharp bearish slopes within negative territory, supporting a continued slide on a break below the mentioned daily low. In the shorter term, and according to the 4 hours chart, the bright metal is also biased lower, as the price stands now far below a bearish 20 SMA that has crossed below the 100 and 200 SMAs, whilst technical indicators consolidate within oversold readings, with no certain directional strength.
Read more...
 
GOLD - Bearish, Declines Further Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Wed Mar 08 17 22:17 ET
GOLD - The commodity declined further on Tuesday leaving risk of more weakness on the cards. On the downside, support comes in at the 1,210.00 level where a break will turn attention to the 1,200.00 level. Further down, a cut through here will open the door for a move lower towards the 1,190.00 level. Below here if seen could trigger further downside pressure targeting the 1,180.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 level. All in all, GOLD looks to weaken further.
Read more...
 
Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Mar 07 17 23:12 ET
Despite the limited action seen across the FX board, the greenback was firmer against other assets, with gold underperforming, plunging to $1,214.09 a troy ounce and finishing the day a few cents above it. Spot fell to a fresh 1-month low on hopes the US Federal Reserve will pull the trigger on rates as soon as next week. The daily chart shows that the price pulled further away from its 200 DMA, which now converges with the 61.8% retracement of post-US slide, also extending its slide below the 20 DMA, whilst technical indicators maintain sharp bearish slopes within negative territory, supporting additional declines with the market now targeting 1,204.50, the 38.2% retracement of the same rally. In the 4 hours chart, the bearish momentum is even stronger, as the RSI maintains its downward strength around 23, while the Momentum indicator retraced sharply after failing to overcome their mid-lines. In the same chart, the 20 SMA maintains a strong bearish slope, having already crossed below the 100 SMA, and poised now to break below the 200 SMA.
Read more...
 
  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  3 
  •  4 
  •  5 
  •  6 
  •  7 
  •  8 
  •  9 
  •  10 
  •  Next 
  •  End 
  • »


JPAGE_CURRENT_OF_TOTAL