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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 Dec 04 16 04:52 ET
Gold' decline from 1377.5 continued last week and breached 61.8% retracement of 1045.4 to 1377.5 at 1172.3. At this point, we'd still expect strong support around 1172.3 to bring rebound. Break of 1197.2 should confirm short term bottoming on bullish convergence condition in 4 hours MACD. In that case, gold should target a test on 1243.2 support turned resistance first. Firm break there will target 1338.3 and above. However, sustained break of 1172.3 will bring retest of 1045.4 low
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Dec 04 16 04:52 ET
Silver continued to struggle in range around 16.525 fibonacci level last week and outlook is unchanged. Further decline could be seen with 17.235 minor resistance intact. But we'd expect strong support around 15.83 to contain downside and break rebound. Break of 17.235 minor resistance will turn bias back to the upside for 19.00 resistance. Break there will confirm completion of corrective decline from 21.225. However, firm break of 15.83 will now extend the fall to retest 13.62 low.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Dec 04 16 04:52 ET
Crude oil's rise from 42.20 resumed last week and reached as high as 51.80. Focus will now be on 51.93 resistance. Decisive break there will confirm resumption of whole rise from 26.05. In that case, crude oil will target next fibonacci level at 57.27. Meanwhile, break of 49.20 resistance turned support will extend the consolidation pattern from 51.67 with another fall leg.
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Dec 04 16 04:51 ET
Natural gas surged to as high as 3.568 last week. The strong break of 3.366 resistance confirmed resumption of whole rise from 1.611. Further rise is now expected to 61.8% projection of 1.611 to 3.366 from 2.546 at 3.631 first. Firm break there will target 100% projection at 4.301. On the downside, break of 3.277 support is needed to confirm short term topping. Otherwise, outlook will remain bullish in case of retreat.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Nov 27 16 09:42 ET
Gold's fall from 1377.5 continued last week and outlook is unchanged. We'd stay cautious on strong support from 61.8% retracement of 1045.4 to 1377.5 at 1172.3 to bring rebound. Above 1220.9 will turn bias back to the upside for 1243.2 support turned resistance first. Firm break there will target 1338.3 and above. However, sustained break of 1172.3 will bring retest of 1045.4 low
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Nov 27 16 09:41 ET
Silver's fall from 21.22 was still in progress last week and outlook is unchanged. Strong support could be seen at around 15.83 to contain downside and bring rebound. Break of 17.235 minor resistance will turn bias back to the upside for 19.00 resistance. Break there will confirm completion of such decline. However, firm break of 15.83 will now extend the fall to retest 13.62 low.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Nov 27 16 09:40 ET
Crude oil's rebound was limited at 49.20 and reversed, the development suggests that recent consolidation is possibly starting another falling leg. Deeper decline could be seen back to 42.20 and below. But in that case, strong support is expected around 39.19 to contain downside. Above 49.20 will target a test on 51.67/93 resistance zone.
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Nov 27 16 09:40 ET
The strong rebound in natural gas suggests that pull back from 3.366 is already finished at 2.546, ahead of 50% retracement of 1.611 to 3.366 at 2.489 as expected. Further rise should now be seen back to retest 3.366 resistance. Break will confirm resumption of whole rise form 1.611. Nonetheless, rejection fro 3.366 will bring another leg to extend the consolidation pattern.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Nov 19 16 11:50 ET
Gold's decline from 1377.5 extended lower last week and outlook is unchanged. Further fall is expected this week for 1199.0. At this point, we'd be cautious on strong support from 61.8% retracement of 1045.4 to 1377.5 at 1172.3 to bring rebound. Above 1233.1 minor resistance will turn bias back to the upside. However, sustained break of 1172.3 will bring retest of 1045.4 low.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Nov 19 16 11:50 ET
Silver's decline from 21.22 continued last week and breached 61.8% retracement of 13.62 to 21.22 at 16.52. At this point, we'd still expect strong support from 15.83 to contain downside. Break of 17.235 minor resistance will turn bias back to the upside for 19.00 resistance. Break there will confirm completion of such decline. However, firm break of 15.83 will now extend the fall to retest 13.62 low.
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