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Oil N' Gold Focus Reports
Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 25 15 00:51 ET
Gold's rebound extended higher last week and breached 1300 handle. In any case, as long as 1239.0 support holds, rise from 1130.4 is expected to extend to 161.8% projection of 1130.4 to 1239.0 from 1167.3 at 1342.5, which is close to 1346.8 resistance.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 25 15 00:50 ET
Silver's rebound from 14.155 extended further last week but it's now close to key cluster resistance zone. That is 61.8% retracement of 21.63 to 14.155 at 18.775 and 100% projection of 14.155 to 17.355 from 15.51 at 18.71, as well as 18.61. We'd expect strong resistance from this area to complete the rebound from 14.155. Break of 17.355 will turn bias to the downside for 15.51 support level. Break there will extend the larger down trend through 14.155 low. Nonetheless, sustained break of 18.61/18.755 will be a sign of trend reversal and bring stronger rise back towards 21.62 resistance.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 25 15 00:50 ET
Crude oil continued to engage in sideway trading last week. While outlook stays bearish with 53.60 resistance intact, we'd start to be cautious on major bottoming. Bullish convergence was seen in daily MACD. Meanwhile, break of 58.98 minor resistance will indicate short term bottoming and bring rebound, possibly to 55 days EMA (now at 63.95).
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 25 15 00:49 ET
While natural gas breached 2.783 short term bottom briefly, there was no follow through selling. It indeed quickly recovered. We're still viewing price actions from 2.783 as a consolidation pattern. Stronger rise could be seen as the third leg of the consolidation extends. But we'd expect strong resistance around 38.2% retracement of 4.544 to 2.783 at 3.456, which is close to 3.541 support turned resistance, to limit upside and bring fall resumption.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 18 15 09:58 ET
Gold jumped sharply to as high as 1282.4 last week and had a strong close. The break of 1255.6 resistance also carries medium term bullish implications. Further rise should now be seen back to 161.8% projection of 1130.4 to 1239.0 from 1167.3 at 1342.5, which is close to 1346.8 resistance. In any case, outlook will now stay cautiously bullish as long as 1239.0 support holds.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 18 15 09:57 ET
The rebound from 14.155 extended higher and broke 17.355 resistance. Further rise could still be seen. But we'd expect strong resistance between 18.61/18.755 to limit upside. There lies cluster resistance level with 61.8% retracement of 21.63 to 14.155 at 18.775 and 100% projection of 14.155 to 17.355 from 15.51 at 18.71. Break of 15.51 will likely extend the larger down trend through 14.155.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 18 15 09:56 ET
Crude oil turned into sideway consolidation last week aft breaching mentioned 44.33 long term fibonacci level. While outlook stays bearish with 53.60 resistance intact, we'd start to be cautious on major bottoming. Bullish convergence was also seen in daily MACD. Meanwhile, break of 58.98 minor resistance will indicate short term bottoming and bring rebound, possibly to 55 days EMA (now at 63.95).
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 18 15 09:55 ET
Last week's recovery and breach of 3.207 resistance indicates short term bottoming at 2.783, on bullish convergence condition in 4 hours MACD. Further rebound should be seen to 38.2% retracement of 4.544 to 2.783 at 3.456, which is close to 3.541 support turned resistance. We'd be cautious on strong resistance from there to limit upside.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 11 15 00:16 ET
Gold's range trading continued last week and outlook is unchanged. Price actions from 1130.4 are viewed as corrective so far. While further recovery cannot be ruled out, upside should be limited well below 1255.6 resistance. An eventual downside break out is expected at latter stage to extend the medium term down trend.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jan 11 15 00:15 ET
Silver continued to sty in range of 14.144/17.355 last week and outlook remains unchanged. At this point, stronger recovery cannot be ruled out as the consolidation continues. But we'd expect strong resistance around 18.61, 61.8% retracement at 18.775 to limit upside and bring near term reversal.
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