Commodities

Technical Analysis – Silver rises after strong downfall from 16.20

Posted on March 8, 2019 at 12:48 pm GMT

Silver came close to breaking the 14.90 support level on Thursday, finishing the day at a two-and-a-half-month low of 14.96. According to the RSI, the market could shift higher as it is sloping slightly upwards in the negate zone, though the MACD oscillator is losing its strong downside momentum in the bearish territory. Also, the 20- and 40-simple moving averages completed a bearish crossover in the daily timeframe, confirming the recent negative view. If the price heads higher, immediate key resistance could come from the 38.2% Fibonacci [..]

Technical Analysis – WTI oil futures hold in narrow range; bullish bias in near term

Posted on March 5, 2019 at 7:51 am GMT

WTI oil futures have been trading above the short-term ascending trend line in the 4-hour chart but are consolidating in a narrow range over the last couple of weeks. The three-and-a-half month high of 57.85 acts as significant upper boundary of the channel while the 55.00 handle is the lower boundary. Currently, the price remains below the 20- and 40-simple moving averages (SMAs) with very weak momentum. The technical indicators are supportive of this view as the RSI is neutral marginally below the 50 level and [..]

Technical Analysis – Gold declines near 1-month low; loses momentum in near term

Posted on March 4, 2019 at 7:51 am GMT

Gold had been trading sharply lower over the last three consecutive days, dropping towards a fresh one-month low near 1290 on Friday. The bounce off the ten-month high of 1346.61 drove the market back to the downside, below the 20- and 40-simple moving averages (SMAs), which are both now suggesting a possible bearish retracement in the short-term. Looking at momentum indicators, the RSI is lacking direction slightly below its neutral threshold of 50, suggesting that the market could keep losing [..]

Technical Analysis – Soybeans futures are on course for possible downward movement

Posted on February 27, 2019 at 2:14 pm GMT

Soybeans futures pulled back on the medium-term ascending trend line and the 23.6% Fibonacci retracement level of the upleg from 8.1156 to 9.3045 near 9.0219, confirming the medium-term upside rally in the daily timeframe. Currently, the price is trading below the bearish cross within the 20- and 40-simple moving averages (SMAs), pointing to a possible fall below the trend line. The MACD and the RSI are flattening near their neutral levels, suggesting that the recent view is weakening. A decline below the 23.6% Fibonacci of [..]

Technical Analysis – Gold bulls take a break but still keep control

Posted on February 27, 2019 at 9:29 am GMT

Gold retreated to meet its previous peak of 1,326 after hitting a 10-month high at 1,346 last week as the RSI pierced into overbought zone. With the indicator now pointing to the downside and towards its 50 neutral mark and the MACD weakening below its red signal line but above zero, the bias is seen as neutral in the short term. Moving southwards, a key support is expected to be challenged at the bottom of the ascending channel near 1,317. A clear negative breakout of the [..]

Technical Analysis – WTI crude oil futures recover slightly higher after sharp bearish move

Posted on February 26, 2019 at 9:58 am GMT

WTI crude oil futures is retreating sharply after the pullback on the three-month high of 57.78 that was reached on February 22. The 20- simple moving average (SMA) is ready to create a bearish crossover with the 40-SMA in the 4-hour chart, as the price is moving towards the short-term rising trend line, taken from the lows on December 26. In the short-term timeframe, the RSI indicator is pointing slightly up in the negative territory as well as the %K line of the stochastic [..]

Technical Analysis – Gold retreats within SMAs; indicators seem too weak

Posted on February 25, 2019 at 10:20 am GMT

Gold prices are consolidating within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart as well as within the red Tenkan-sen and blue Kijun-sen lines. The momentum indicators seem flat also, as the RSI is flattening near the neutral threshold of 50, while the MACD is holding above the zero line with very weak momentum in the short-term. If the price surpasses the 1333.10 resistance level, which overlaps with the 20-SMA, this could send price towards the 10-month high of [..]

Technical Analysis – Soybeans futures remain in bullish mode; eyes 7-month high next

Posted on February 22, 2019 at 10:04 am GMT

Soybeans futures rebounded on the medium-term ascending trend line and the 23.6% Fibonacci retracement level of the upleg from 8.1156 to 9.3045 near 9.0219 in the preceding days, confirming the recent upside rally in the daily timeframe. Currently, the price is trading between the 20- and 40-simple moving averages, while a jump above these lines would endorse the bullish outlook. However, the MACD and the RSI are flattening near their neutral levels, suggesting that the recent view is weakening. In case the [..]

Technical Analysis – Silver eases below 7-month high; bullish in near term

Posted on February 21, 2019 at 2:24 pm GMT

Silver retreated after jumping towards a new seven-month high of 16.20 during Wednesday’s session. The bullish picture in the very short-term looks to last for a while longer as prices remain above the 20- and 40-simple moving averages (SMAs). Also, the price failed to slip below the red Tenkan-sen line and is holding above the Ichimoku cloud. Technically, in the daily timeframe, the RSI lies in positive area and is falling, however the MACD oscillator printed a bullish cross with its trigger line [..]

Gold rips higher amid a quiet flight to safety – Special Report

Posted on February 20, 2019 at 3:26 pm GMT

Bullion prices continue to surge, ascending to fresh 10-month highs this week. Since the correlation between gold and the US dollar has diminished lately, it seems a flight to safety is quietly going on, amid global growth and recession concerns. Yet, for buyers to pierce above the elusive $1365 area, some more ‘fuel’ may be required, such as a fresh escalation in growth risks or a materially weaker dollar. Gold has had an impressive run so far this year, rising [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms