|
Quick Links
|
Oil N' Gold Focus Reports
|
Technical
|
|
Written by Oil N' Gold |
Wed Mar 10 10 07:20 ET
|
|
Intraday bias in Crude oil remains neutral for the moment as consolidation from 82.41 continues. Another rise is still mildly in favor with 79.75 minor support intact and above 82.41 will target a retest on 83.95 high. However, considering bearish divergence condition in 4 hours MACD, break of 79.75 support will indicate that a short term top is formed and will bring deeper fall to 38.2% retracement of 69.50 to 82.41 at 77.48 next.
|
|
Read more...
|
|
|
Technical
|
|
Written by Oil N' Gold |
Wed Mar 10 10 07:19 ET
|
|
Natural gas continues to stay in tight range today. While downside momentum is diminishing with 4 hours MACD staying above signal line, another fall could still be seen with 4.79 resistance intact. Current decline from 6.108 might still extend further towards 4.157 key support level. On the upside, however, above 4.79 will argue that a short term bottom is formed with bullish convergence condition in 4 hours MACD. In such case, stronger rebound could be seen towards 5.06 resistance next.
|
|
Read more...
|
|
Insights
|
|
Written by Oil N' Gold |
Wed Mar 10 10 01:14 ET
|
|
Firmness in dollar and speculations on huge crude oil triggered profit-taking in the energy market. The front-month contract for WTI crude oil price plummeted to as low as 80.16 before recovering to 81.49, down -0.5%.Today in Asian session, crude oil continues hovering around 81 with thin trading.
|
|
Read more...
|
|
Insights
|
|
Written by Oil N' Gold |
Tue Mar 09 10 11:52 ET
|
|
Global gold ETFs gained +0.58% to 56.28M oz in the week ended March 5. 6 out of 10 funds under our coverage showed inflows over the reporting period. For the rest of the funds, 2 showed decline and 2 were unchanged. Year-to-date however, modest outflow of around -1% is seen. During the same period last year, there was huge inflow to corresponding ETFs with each of SPDR Gold Trust and ZKB Gold ETF, the biggest and second biggest ETFs, recording over +30% increases in gold holdings during the period.
|
|
Read more...
|
|
Insights
|
|
Written by Oil N' Gold |
Tue Mar 09 10 07:40 ET
|
|
Retreats of commodity prices accelerate in European session as USD gains ground against major currencies. The front-month contract for crude oil slides to -1.4% 80.75. Speculations on appreciation in RMB depressed stock markets and hence affected oil prices. The American Petroleum Institute is due to report its inventory estimates. Investors take profits of recent gains ahead of the report.
|
|
Read more...
|
|
Technical
|
|
Written by Oil N' Gold |
Tue Mar 09 10 07:32 ET
|
|
Gold's fall from 1145.8 continues today and at this point, intraday bias remains mildly on the downside for deeper decline. However, note that rise from 1044.5 is in favor to continue as long as 1088.5 support holds. Above 1128.2 minor resistance will flip intraday bias back to the upside. Further break of 1145.8 will bring rally resumption to 1163 resistance next. However, break of 1088.5 will indicate that whole rise from 1044.5 is completed and will turn outlook bearish for another fall towards this low.
|
|
Read more...
|
|
Technical
|
|
Written by Oil N' Gold |
Tue Mar 09 10 07:31 ET
|
|
As noted before, an intraday top is in place at 17.53 after silver hit 100% projection of 14.65 to 16.56 from 15.61 at 17.525. Bias is neutral for the moment and deeper decline could be seen. However, note that rise from 14.65 is still in favor to continue as long as 15.61 support holds. Sustained break of 17.525 will target 161.8% projection at 18.708. However, note that break of 15.61 will indicate that rise from 14.65 has completed. The three wave structure will revive that case that recent fall from 19.50 is still in progress for another low below 14.65.
|
|
Read more...
|
|
Technical
|
|
Written by Oil N' Gold |
Tue Mar 09 10 07:31 ET
|
|
Crude oil's retreat from 82.41 extends further today. considering bearish divergence condition in 4 hours MACD, break of 79.75 support will indicate that a short term top is formed and will bring deeper fall to 38.2% retracement of 69.50 to 82.41 at 77.48 next. Nevertheless, before that, another rise could still be seen and above 82.41 will target a retest on 83.95 high.
|
|
Read more...
|
|
Technical
|
|
Written by Oil N' Gold |
Tue Mar 09 10 07:30 ET
|
|
Natural gas is losing a bit downside momentum with 4 hours MACD crossed above signal line. But another fall could still be seen with 4.79 resistance intact. Current decline from 6.108 might still extend further towards 4.157 key support level. On the upside, however, above 4.79 will argue that a short term bottom is formed with bullish convergence condition in 4 hours MACD. In such case, stronger rebound could be seen towards 5.06 resistance next.
|
|
Read more...
|
|
Insights
|
|
Written by Oil N' Gold |
Mon Mar 08 10 23:45 ET
|
|
Crude oil rallied to an 8-week high of 82.41 earlier on the day as USD weakened and concerns over Greek debt crisis eased. However, price then pared gains as the dollar rebounded and China implemented further measures to curb lending. The front-month contract for WTI crude oil ended the day at 81.87, +0.45%.
|
|
Read more...
|
|
|
|
|
Page 2 of 268 |
|
|
