Commodities

Technical Analysis – London Gas Oil futures trades near ascending trend line; outlook still bullish

Posted on August 9, 2018 at 2:00 pm GMT

London Gas Oil futures have reversed back up again after finding support near the long-term ascending trend line. After the pullback on the 704.13 resistance level, the price came under pressure and started a downside rollercoaster. However, the weak picture in the short-term is further support by the technical indicators. But the technical indicators now support that the market could develop sideways in the short-term as the RSI holds near its neutral threshold of 50 and the MACD lies pretty close to zero [..]

Technical Analysis – West Texas Intermediate futures regain some ground above SMAs

Posted on August 7, 2018 at 10:29 am GMT

WTI crude oil futures for September delivery have finally reversed to the upside after the rebound on the long-term ascending trend line. The price also surpassed the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, suggesting an extension of the bullish momentum. From the technical point of view, the RSI indicator is pointing up in the positive territory, while the MACD oscillator jumped above its trigger line but remains near its zero line. In case of a further [..]

Technical Analysis – Gold holds above 17-month low; could weaken further in near term

Posted on August 6, 2018 at 9:14 am GMT

Gold posted a fresh 17-month low of 1204.36 last Friday, but now it is trading slightly higher from this bottom. The aggressive sell-off continues after the bounce off the short-term falling trend line and the 20- and 40-simple moving averages in the 4-hour chart. From a technical point of view, the RSI is currently increasing negative momentum and is heading to the downside, while the %K line of the stochastic oscillator completed a bearish crossover with the %D line. Should prices decline further, immediate support could be [..]

Technical Analysis – WTI crude oil futures remain bullish above short- and long-term uptrend lines

Posted on July 31, 2018 at 12:58 pm GMT

WTI futures have been standing above the short (since July 18) and long-term (since June 21, 2017) ascending trend lines suggesting a possible strong upside momentum after the strong bounce off the 75.24 resistance level. However, over today’s session, the price posts limited losses approaching the 20-simple moving average (SMA) of 69.46 in the 4-hour chart. The RSI indicator and the MACD oscillator have both weakened, with the former holding near its neutral threshold of 50 and the latter easing [..]

Technical Analysis – Gold trades in consolidation area in short-term; bearish mode in medium-term

Posted on July 30, 2018 at 9:58 am GMT

Gold has been consolidating since July 19 and has been stuck below the 23.6% Fibonacci retracement level near 1235 of the downleg from 1309 to 1211.38. The price holds within the upper boundary of the 1235 resistance and the lower boundary of the 1218 support barrier, while it also stands below the 20- and 40-simple moving averages in the near-term. Turning to the technical indicators, the MACD oscillator is falling below the zero and trigger lines strengthening its momentum. Additionally, [..]

Technical Analysis – WTI futures suggest further gains in near term; bullish crossover within SMAs completed

Posted on July 24, 2018 at 12:36 pm GMT

WTI futures have been in a flying mode today in the short-term timeframe as it surpassed the 20- and 40-simple moving averages (SMAs). The price rebounded on the 67.56 key level, so, having all these in mind, the outlook seems to be cautiously positive. Looking at the 4-hour chart, the technical oscillators are giving signs that the latest run may continue for a while more. The RSI turned up after it jumped above its 50 line, however, the MACD has flattened near its zero [..]

Technical Analysis – Gold retreats below 40-SMA; bearish picture remains in long term

Posted on July 23, 2018 at 8:06 am GMT

Gold eases on Monday’s session after an aggressive buying interest in the previous day after the rebound on the one-year low of 1211.38. The precious metal dipped below the 40-simple moving average (SMA) in the 4-hour chart pointing to a continuation of the bearish outlook. From the technical point of view, the Relative Strength Index (RSI) is sloping to the downside, slightly above the threshold of 50, while the %K line dipped below the %D line in the overbought zone, creating a [..]

Technical Analysis – Copper futures extend significant sell-off daily session; trade near 1-year low

Posted on July 19, 2018 at 1:49 pm GMT

Copper futures with delivery in September tumbled towards a fresh one-year low near 2.6700 over today’s trading session and are set to complete the sixth consecutive negative week. Prices remain under pressure as the 20- and 40- simple moving averages (SMAs) in the daily timeframe are acting as significant resistance levels. Technically, momentum indicators are pointing to a negative bias. The RSI indicator is moving in the oversold zone and is pointing south while the MACD oscillator is strengthening its bearish momentum below the [..]

Technical Analysis – WTI crude oil futures plunges near 3-week low; bearish phase holds

Posted on July 17, 2018 at 8:14 am GMT

WTI futures for August delivery recorded a fresh more than three-week low of 67.56 on Monday, while the sharp bearish run started following the pullback on the 74.64 resistance level last Tuesday. Also, the price plunged below the 61.8% Fibonacci retracement level of the upleg from 63.37 to 75.24 of 67.90, indicating that a bearish movement is in play in the near term. In the 4-hour chart, the momentum indicators are supportive of the bearish picture, with the RSI remaining into the oversold zone [..]

Technical Analysis – Gold rebounds on 1-year low; bearish sloping channel holds

Posted on July 16, 2018 at 8:36 am GMT

Gold dipped to a fresh one-year low of 1236.27 during Friday’s trading session and posted a strong negative day, while it closed well above its intraday trough. Zooming in the 4-hour chart, the price today found a significant hurdle on the 20-simple moving average (SMA) and failed to jump above it. The technical indicators are sending different signals with the Relative Strength Index (RSI) flattening in the negative zone, however, the MACD oscillator created a bullish cross with its trigger line in the bearish [..]

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