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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 | Thu Oct 30 14 04:16 ET
Crude is still fluctuating around the support of the descending channel while Linear Regression Indicators are still negative, which forces us to keep our expectations of a downside move on the short and intraday basis targeting 80.00 then 78.00. Of note, MACD is still positive and the sideways volatility could stay valid with positive attempts to stop the negative pressure dominating the short-term trading.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Oct 30 14 04:16 ET
The U.S. Federal Reserve decided yesterday to end its quantitative easing program boosting the U.S. dollar, which pushed gold to the downside. By examening the graph, we notice that the metal is currently trading below 1215.75 which favors extending the downside move towards the psychological barrier 1200.00, then breaking the latter could lead to touching the previous bottom at 1182.80 at least.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Thu Oct 30 14 00:12 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. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends this month's rally, the 50% retracement level of the JulyOctoberdecline crossing is the next upside target.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Oct 29 14 04:38 ET
Crude oil is retesting the previously broken support of the descending channel, whereas its affected by the positivity of MACD and RSI, while Linear Regression Indicators are providing negative signals that keeps the overall downside move valid with targets starts by breaking 80.00 then 78.00. Of note, breaching 81.85 halts the negative expectations and could push the price to reverse its intraday move to the upside.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Wed Oct 29 14 04:37 ET
The metal witnessed heavy volatility yesterday and attempted to move to the upside but remained limited below 1236.15, and stabilizing below the referred to level fails any bullish attempt. By examening MACD, we notice weak signals in addition to an attempt to show negativity accompanied by RSI not being able to stabilize above line 50.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Oct 28 14 23:55 ET
SPOT GOLD closed higher on Tuesday. The midrange close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends this month's rally, the 50% retracement level of the JulyOctoberdecline crossing is the next upside target.
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Gold Underpinned By Weaker US Data, Potential For Sharp Move Wednesday Print E-mail
Analysis | Commodity Technical Analysis | Written by Forex.com | Tue Oct 28 14 21:18 ET
Today gold is trading higher along with all the other precious metals. It has taken the yellow metal three days to respond to the falling US dollar, which has weakened against a basket of foreign currencies after the release of some disappointing data. On Friday we saw sales of new homes come in at a six-year high for September, but the 0.2% increase was below expectations while the August sales were revised sharply lower. Pending home sales likewise increased by a meagre 0.3% month-over-month as we found out on Monday, missing expectations of a 1.1% growth by a mile. And today, we had some really bad durable goods orders data: the headline figure fell by a good 1.3% in September while core orders dipped by 0.2%. Expectations were for +0.4 and +0.5 per cent, respectively.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Oct 28 14 05:11 ET
Crude oil is trading in a bearish bias since yesterday affected by the data related to Goldman Sachs lowering its expectations regarding oil prices, in addition to the National Iranian Oil Company's Director of International Affairs confirmation that the Organization of the Petroleum Exporting Countries (OPEC) will not reduce its production ceiling, which pushed the pair to break 80.00 then fluctuated around it now. Generally, the downside move remains valid and expected in the coming period by stabilizing below 82.10, targeting next 78.00.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Tue Oct 28 14 04:45 ET
The metal is trading below 1236.15 levels and Linear Regression Indicator 34. We notice a negative crossover attempt on MACD and RSI is stable below line 50. The referred to catalysts forces us to think the bearish possibility is valid today, but might not be strong if the metal failed to break 1215.75 levels.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Tue Oct 28 14 00:17 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 are neutral to bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends this month's rally, the 50% retracement level of the JulyOctoberdecline crossing is the next upside target.
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IMM Positioning: Investors Unwind Net JPY Shorts Print E-mail
Analysis | Commodity Technical Analysis | Written by Danske Bank | Mon Oct 27 14 06:49 ET
IMM data released last Friday revealed a slight bearish build in speculative EUR positions. From a historical perspective, however, the move was insignificant. Hence, non-commercial EUR positioning maintains the past seven weeks’ stable level around the stretched short level of the 6th -8th percentile (see page 3). Consequently, a new catalyst still seems required to drive EUR positioning further.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Oct 27 14 05:38 ET
The metal started this week with weak trading below 38.2% correction at 1236.15 and below Linear Regression Indicator 34. We also notice weakness on both MACD and RSI. Despite that, Linear Regression Indicators are trading positively till now, but we will montior the price between the referrred to 1236.15 from the upside and 1215.75 from the downside, whereas the $15 range between them are unclear and Risk/Reward Ratios are inappropriate.
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Mon Oct 27 14 05:37 ET
Crude oil is still within a tight range and stable below the support of the descending channel. Hence, the negative pressure is still ongoing keeping the downside move favored in the coming period targeting 80.00 then 78.00. The positivity of MACD and RSI could lead to further sideways trading till the price gets a negative catalyst that support the bearish extension which require stability below 82.10.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Mon Oct 27 14 01:57 ET
SPOT GOLD closed lower on Friday as it consolidated some of Thursday's decline. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends this month's rally, the 50% retracement level of the JulyOctoberdecline crossing is the next upside target.
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GOLD - Closes Lower On Rejection Candle Print E-mail
Analysis | Commodity Technical Analysis | Written by FXTechStrategy | Sun Oct 26 14 21:57 ET
GOLD - With GOLD closing lower the past week, it looks to extend that weakness in the days ahead. On the upside, resistance lies at the 1,257.77 level where a break will target the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support stands at the 1,220.00 level. Below here if seen could trigger further downside towards the 1,200.00 level where a break will aim at the 1,170.00 level. All in all, GOLD remains biased to the downside in the medium term but faces recovery threats
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Technical Analysis for Energy Markets Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Oct 24 14 04:23 ET
Crude oil is still stable above the previously broken support of the descending channel that is turning to a significant resistance at 82.70, and our bearish expectations are still valid because the price is below the referred to level supported by Linear Regression Indicators. The awaited targets reside mainly at 78.00, while breaching 82.70 triggers attempts to test 85.45 mainly.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Fri Oct 24 14 04:23 ET
The metal dropped yesterday and failed to stabilize above 38.2% correction at 1236.15 showing above. Stability below the referred to level weakens the positivity intraday without failing it. Stability above 1215.75 could bring back the upside move, but trading below Linear Regression Indicator 34 in addition to RSI weakness by trading below line 50, and the curved signal lines of MACD forces us to prefer the sidelines today.
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Bullion and Energy Market Commentary Print E-mail
Analysis | Commodity Technical Analysis | Written by HY Markets | Fri Oct 24 14 00:35 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 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 | Thu Oct 23 14 05:25 ET
The price continued its negative trading after US crude oil inventories declined yesterday testing 80.00 levels again, as we wait to extend the downside move in the upcoming period as long as crude is stable below 82.75. The targets of the next bearish wave reaches to 78.00 levels.
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Technical Analysis for Precious Metals Print E-mail
Analysis | Commodity Technical Analysis | Written by ICN.com | Thu Oct 23 14 05:24 ET
Gold dropped yesterday after failing to stabilize above 1252.65 the day before, but this downside move remained limited above 38.2% correction at 1236.15 and above Linear Regression Indicators. Linear Regression Indicators are trading positively and RSI is moving in a bullish bias above line 50. MACD is also trading positively supporting the possibility of bringing positivity back.
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