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Oil N' Gold Focus Reports
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ONG Focus | Technical |
Written by Oil N' Gold |
Sat Apr 14 12 11:22 ET
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Despite dropping to 100.68, Crude oil drew some support from mentioned 61.8% retracement of 95.44 to 110.55 at 101.21 and recovered. Initial bias is neutral this week with focus back on 105.49 minor resistance. Break there will indicate that choppy correction from 110.55 is finished and will flip bias back to the upside. Also this will affirm the bullish case that rise from 74.95 is no over yet and will bring retest of 110.55 first. Nonetheless, another break of 100.68 will now have bearish implication and should turn focus back to 95.44 support instead.
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ONG Focus | Technical |
Written by Oil N' Gold |
Sat Apr 14 12 11:21 ET
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Natural gas's downtrend extended further last week and broke 2.0 psychological level. Downside momentum is a bit unconvincing with 4 hours MACD crossed above signal line. But after all, bear term outlook remains bearish as long as 2.126 minor resistance holds. Current decline could extend to 100% projection of 2.733 to 2.204 from 2.38 at 1.851 next.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 11 12 06:14 ET
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Fall from 1792.7 is still in progress even though downside momentum is a bit unconvincing. Current decline should extend to 1523.9 support and possibly below. On the upside, though, break of 1696.9 will indicate short term bottoming and bring stronger rebound back towards 1792.7.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 11 12 06:13 ET
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The breach of 31.09 support indicates that whole decline from 37.475 has resumed. Near term outlook will stay bearish as long as 33.29 resistance holds. Current fall should target 26.145 support and below. On the upside, though, break of 33.29 will indicate that fall from 37.475 has possibly finished and bring stronger rebound back to 34.45 resistance and above.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 11 12 06:13 ET
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Crude oil is pressing mentioned 61.8% retracement of 95.44 to 110.55 at 101.21 for the moment. Even though there is no sign of reversal yet, crude oil did continue to lose downside momentum. We'll turn neutral first. Above 105.49 will indicate that correction from 110.55 is finished and flip bias back to the upside for retest this resistance. However, sustained break of 101.21 fibo support will argue the rise from 95.44 has totally completed and will turn focus back to this support.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 11 12 06:12 ET
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Natural gas's down trend is still in progress for 2.0 psychological level. However, it continues to lose downside momentum with mild bullish convergence condition in 4 hours MACD. Strong support could be seen between 1.96/2.00 to bring at least a rebound attempt. Above 2.126 minor resistance will indicate short term bottom and bring rebound back to 2.393 resistance first.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 04 12 05:26 ET
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With 1717.4 resistance intact, we'd continue to favor further fall in gold. Below 1672.5 will extend the decline from 1792.7 towards 1523.9 support and possibly below. On the upside, though, break of 1717.4 will indicate that fall from 1792.7 is finished and rebound from 1523.9 is set to resume.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 04 12 05:25 ET
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Silver continued to stay in sideway consolidation above 31.09 and outlook remains unchanged. With 34.45 resistance intact (50% retracement o 37.475 to 31.09 at 34.28), we'd favor deeper decline in near term. On the downside, below 31.09 will affirm the bearish case and should extend the fall from 37.475 to 26.145 support and below eventually. Nonetheless, sustained trading above 34.45 will indicate that rise from 26.145 is indeed still in progress for another high above 37.475.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 04 12 05:25 ET
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No change in crude oil's outlook. Consolidation from 110.55 is still in progress and deeper decline could be seen. But after all, downside is expected to be contained by 61.8% retracement of 95.44 to 110.55 at 101.21 and bring rebound. Above 108.25 will indicate that such correction is finished and rally from 74.95 should then be resuming for 114.83 key resistance. However, sustained break of 101.21 fibo level will dampen this bullish view and turn focus back to 95.44 support.
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ONG Focus | Technical |
Written by Oil N' Gold |
Wed Apr 04 12 05:24 ET
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Natural should have formed a temporary low at 2.069 and intraday bias is turned neutral. Nonetheless, near term outlook remains bearish with 2.393 resistance intact and another fall is still in favor to 2.0 psychological level. However, considering bullish convergence condition in 4 hours MACD, break of 2.393 will be an important signal of near term trend reversal and will bring stronger rebound back to 2.844 and above.
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