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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 Jun 26 16 10:51 ET
Gold's rally continued last week and briefly touched mentioned target of 61.8% projection of 1045.4 to 1306.0 from 1199.0 at 1360.1. As it's now close to long term fibonacci level at 1380.98, we'll be cautious on topping at current level. Break of 1252.8 support will be the first sign of trend reversal and will turn focus back to 1199.0 support.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jun 26 16 10:51 ET
Silver's break of 18.06 resistance last week suggests that medium term rise from 13.62 is resuming. Initial bias will be on the upside this week. Current rally would target 100% projection of 14.785 to 18.06 from 15.83 at 19.10 next. On the downside, break of 17.105 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jun 26 16 10:50 ET
Crude oil stayed in range of 45.83/51.67 last week and outlook is unchanged. A short term top should be in place on bearish divergence condition in 4 hours MACD. Deeper fall is still in favor and break of 45.83 will target 38.2 retracement of 26.05 to 51.67 at 41.88, which is close to 41.90 resistance turned support. However, considering that crude oil stays inside a near term channel, break of 51.67 will extend the rebound from 26.05 instead.
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sun Jun 26 16 10:50 ET
Natural gas edged higher last week but lost momentum ahead of 161.8% projection of 1.611 to 2.195 from 1.909 at 2.854. Further rise could still be seen. But considering bearish divergence condition in 4 hours MACD, upside should be limited by 2.854 and bring correction. Below 2.535 support will indciate short term topping and bring bring pull back.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Jun 18 16 08:52 ET
Gold's break of 1306.0 resistance last week argues that the rally from 1045.4 has resumed. Further rise would now be seen to 61.8% projection of 1045.4 to 1306.0 from 1199.0 at 1360.1 next. On the downside, however, break of 1267.3 will dampen this bullish view and turn focus back to 1199.0 support instead.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Jun 18 16 08:51 ET
Silver lost momentum ahead of 18.05 resistance and weakened. Initial bias is neutral this week. Overall, price actions from 18.05 are viewed as a consolidation pattern and could extend with another further. Hence, in case of another rise, we'd be cautious on strong resistance from 18.05 to limit upside. Break of 17.105 minor support should now start another fall to 15.83 and possibly below.
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Crude Oil Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Jun 18 16 08:51 ET
Crude oil dipped sharply to as low as 45.83 last week but recovered since then. The development confirmed short term topping at 51.67 on bearish divergence condition in 4 hours and MACD. Deeper fall is expected to 38.2 retracement of 26.05 to 51.67 at 41.88, which is close to 41.90 resistance turned support. However, considering that crude oil stays inside a near term channel, break of 51.67 will extend the rebound from 26.05 instead.
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Natural Gas Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Jun 18 16 08:50 ET
Natural gas engaged in consolidation most of the week last week but rally resumed towards this end. Initial bias stays on the upside this week for 161.8% projection of 1.611 to 2.195 from 1.909 at 2.854 next. On the downside, break of 2.451 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.
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Gold Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Jun 11 16 10:35 ET
Gold's rebound form 1199.0 continued last week and further rise should still be seen towards 1306.0. Price actions from 1306.0 are expected to develop into a sideway pattern. Thus, strong resistance should be seen there to bring near term reversal. Below 1251.3 support will turn bias to the downside for 1199.0 again, which is close to 38.2% retracement of 1045.4 to 1306.0 at 1206.5.
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Silver Weekly Technical Outlook Print E-mail
ONG Focus | Technical | Written by Oil N' Gold | Sat Jun 11 16 10:34 ET
Silver's rebound from 15.83 continued last week. Strong break of 16.58 resistance confirmed near term reversal and further rise could be seen to retest 18.08 high. At this point, price actions from 18.05 are viewed as a consolidation pattern and could extend with another fall. In case of another decline, down side should be contained by 61.8% retracement of 13.62 to 18.06 at 15.31 and rebound.
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