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Oil N' Gold Focus Reports
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ONG Focus | Technical |
Written by Oil N' Gold |
Thu Feb 23 12 05:12 ET
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Crude oil's rally is still in progress and reaches as high as 106.72 so far even though upside momentum is seen diminishing mildly. Further rise is expected as long as 104.31 minor support holds. As discussed before, current rise from 74.95 is expected to target a test on 114.83 key resistance next. On the downside, below 104.31 will indicate short term topping and bring pull back to 4 hours 55 EMA (now at 103.28) and below before staging another rise.
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ONG Focus | Technical |
Written by Oil N' Gold |
Thu Feb 23 12 05:11 ET
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Rise from 2.483 is viewed as the third leg of the consolidation pattern from 2.231 and is still in favor to continue to 2.844 resistance and above. However, upside is expected to be limited by 3.12 cluster resistance (61.8% retracement of 3.689 to 2.231 at 3.132) and bring down trend resumption eventually. Below 2.483 will bring retest of 2.231 low first. Break will confirm fall resumption for 2.130 projection level next.
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ONG Focus | Technical |
Written by Oil N' Gold |
Tue Feb 21 12 03:42 ET
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Gold continues stay in consolidative trading below 1765.9 and intraday bias remains neutral for the moment. Though, we'll stay cautiously bullish as long as 38.2% retracement of 1523.9 to 1765.9 at 1673.5 holds. Above 1765.9 will target 1804.4 key near term resistance next. However, sustained trading below 1673.5 will argue that rebound from 1523.9 has completed and flip bias back to the downside for this support.
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ONG Focus | Technical |
Written by Oil N' Gold |
Tue Feb 21 12 03:41 ET
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Intraday bias in silver remains neutral for the moment as consolidation from 34.52 continues. There is no clear signal of reversal as the price actions from 34.52 look corrective so far. We'll slightly prefer another rise as long as 38.2% retracement of 26.145 to 34.52 at 31.32 holds. Above 34.52 will target a test on 35.70 key resistance next. Nonetheless, sustained break of 31.32 should confirm completion of rise from 26.145 and flip bias back to the downside for retesting this support.
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ONG Focus | Technical |
Written by Oil N' Gold |
Tue Feb 21 12 03:40 ET
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Crude oil formed a temporary top at 105.44 and intraday bias is turned neutral for some consolidations. Though, downside of retreat is expected to be contained above 100.84 and bring another rise. Rally from 74.95 has just resumed and above 105.44 will target 114.83 key resistance next.
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ONG Focus | Technical |
Written by Oil N' Gold |
Tue Feb 21 12 03:38 ET
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Natural gas' consolidation from 2.231 is still in progress and intraday bias is mildly on the upside for 2.844 resistance and above. However, upside is expected to be limited by 3.12 cluster resistance (61.8% retracement of 3.689 to 2.231 at 3.132) and bring down trend resumption eventually. Below 2.483 will bring retest of 2.231 low first. Break will confirm fall resumption for 2.130 projection level next.
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ONG Focus | Technical |
Written by Oil N' Gold |
Sun Feb 19 12 11:49 ET
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Gold is still bounded in tight range below 1765.9 last week as consolidation continued. Such consolidation will likely extend further this week and deeper retreat cannot be ruled out. Though, we'll stay cautiously bullish as long as 38.2% retracement of 1523.9 to 1765.9 at 1673.5 holds. Above 1765.9 will target 1804.4 key near term resistance next. However, sustained trading below 1673.5 will argue that rebound from 1523.9 has completed and flip bias back to the downside for this support.
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ONG Focus | Technical |
Written by Oil N' Gold |
Sun Feb 19 12 11:48 ET
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Silver's choppy sideway trading continued further last week and with 4 daily MACD staying below signal line, more consolidative would likely be seen. There is no clear signal of reversal as the price actions from 34.52 look corrective so far. We'll slightly prefer another rise as long as 38.2% retracement of 26.145 to 34.52 at 31.321 holds. Above 34.52 will target a test on 35.70 key resistance next. Nonetheless, sustained break of 31.32 should confirm completion of rise from 26.145 and flip bias back to the downside for retesting this support.
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ONG Focus | Technical |
Written by Oil N' Gold |
Sun Feb 19 12 11:47 ET
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Crude oil rose to as high as 104.14 last week and the break of 103.74 resistance confirmed resumption of 74.95. Initial bias remains on the upside this week and current rally should head towards 114.83 key resistance next. On the downside, break of 100.84 minor support is needed to signal short term topping. Otherwise, near term outlook will remain bullish even in case of retreat.
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ONG Focus | Technical |
Written by Oil N' Gold |
Sun Feb 19 12 11:46 ET
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Natural gas jumped sharply to as high as 2.733 last week and the break of 2.618 minor resistance indicates that another rising leg has started inside the consolidation pattern from 2.231. Initial bias is mildly on the upside for 2.844 and above this week. But after all, upside is expected to be limited by 3.12 cluster resistance (61.8% retracement of 3.689 to 2.231 at 3.132) and bring down trend resumption eventually. Below 2.483 will bring retest of 2.231 low first. Break will confirm fall resumption for 2.130 projection level next.
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