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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 May 03 15 06:27 ET
Gold continued to engage in corrective trading above 1141.6 and struggled to take out 55 days EMA decisively. Current selloff argues that rebound from 1141.6 might be finished at 1124.5 already. Deeper fall could be seen back to retest 1141.6 next. In case of recovery, risk will remain on the downside as long as 1224.5 resistance holds.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun May 03 15 06:26 ET
Silver's sideway trading is still in progress. Overall, price actions from 14.155 are viewed as a consolidation pattern. More sideway trading would be seen in near term. But as long as 18.61 resistance zone holds, an eventual downside breakout is mildly in favor.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun May 03 15 06:26 ET
The rebound from 42.03 extended higher and there is no sign of topping yet. Initial bias remains on the upside this week and further rally should be seen to 38.2% retracement of 107.73 to 42.03 at 67.13. We'd look for topping signal around there. On the downside, below 56.07 minor support will turn bias neutral and bring consolidations first before staging another rally.
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun May 03 15 06:25 ET
The strong rebound and decisive break of 2.693 resistance indicated that a short term bottom is formed at 2.443, on bullish convergence condition in 4 hours MACD. Bias will stay on the upside for stronger rebound to 3.039 resistance. Break will target 38.2% retracement of 4.544 to 2.443 at 3.246. On the downside, below 2.612 minor support will dampen this bullish case and turn bias neutral first.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Mar 29 15 08:31 ET
Gold's decline from 1239.0 was finished at 1141.6 but subsequent rebound faced some resistance from 55 days EMA. Initial bias is neutral this week first. On the upside, break of 1223.0 resistance will target 1239.0 next. meanwhile, below 1178.6 will turn bias back to the downside for 1141.6 and then 1130.4.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Mar 29 15 08:31 ET
The choppy fall from 18.505 completed at 15.26 and rebound from there is in progress. Overall, price actions from 14.155 are viewed as a consolidation pattern. More sideway trading would be seen in near term. But as long as 18.61 resistance zone holds, an eventual downside breakout is mildly in favor.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Mar 29 15 08:30 ET
Crude oil continues to build up the case for trend reversal. But break of 54.24 is needed to confirm bottoming. Otherwise, outlook will stay bearish for another decline. Below 42.03 will target 40 psychological level. Meanwhile, break of 54.24 will target 38.2% retracement of 107.73 to 42.03 at 67.13.
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Mar 29 15 08:30 ET
Price actions from 2.567 are seen as a consolidation pattern and is possibly completed at 2.935. Further fall is in favor to 2.567 support first. Break will extend the larger down trend and would target 1.902 long term bottom. On the upside, break of 2.935 resistance is needed to indicate reversal. Otherwise, outlook will stay cautiously bearish.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Mar 08 15 10:11 ET
Gold dropped sharply to as low as 1162.9 last week. Break of 1167.3 support confirmed completion of rebound from 1130.4 and should now pave the way to retest 1130.4 first. Above 1223.0 resistance is needed to confirm near term reversal. Otherwise, outlook will stay bearish in case of recovery.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Mar 08 15 10:10 ET
The choppy decline from 18.505 continued last week and extended lower. At this point, the structure of such fall is still indicating that it's a correction. Thus, strong support would be see from 15.51 to contain downside and bring rebound. Above, 16.86 resistance will suggest that fall from 18.505 is finished and bring retest of this resistance first. However, break of 15.51 will confirm near term bearish outlook for 14.155 low.
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