Commodities

Technical Analysis – WTI crude oil futures retreat following the pullback on 3½-year high of 70.80

Posted on May 8, 2018 at 8:50 am GMT

West Texas Intermediate (WTI) crude has advanced considerably and recorded a fresh three-and-a-half-year high of 70.80. The price retreated after the bounce off the mentioned level and the short-term technical indicators are endorsing the scenario for a potential bearish retracement. Looking at momentum indicators, in the 4-hour chart, the RSI has plunged below the overbought levels and is pointing south, approaching the 50-neutral level. Also, the MACD is heading lower and posted a bearish cross with its trigger line in the positive territory, supporting [..]

Technical Analysis – Gold edges lower after touching 1319 resistance level; holds in trading range in medium term

Posted on May 7, 2018 at 8:07 am GMT

Gold has been edging sharply lower during today’s European session after the pullback on the 1319 resistance level. It is worth mentioning that the price has been developing within a trading range since January 2 with the 1365 resistance level being the upper boundary and the 1303 support level the lower boundary, while it lacks a clear trend. Technically, in the 4-hour chart, the RSI indicator is sloping to the downside and is approaching the negative territory, while the stochastic oscillator posted [..]

Gold retreats as “king dollar” returns, but risk events still loom – Commodity News

Posted on May 3, 2018 at 12:10 pm GMT

The past few weeks have not been kind to gold prices, which touched their lowest level in four months on Tuesday, as a cocktail of fading risks on the Korean peninsula and a recovering dollar curbed demand for the precious metal. While a resurgent dollar continues to pose downside risks for gold, there are several other political and geopolitical risk events that have the capacity to push prices higher should they materialize, most notably a potential escalation of tensions with [..]

Technical Analysis – WTI crude oil futures remain under pressure; creates narrow range in near term

Posted on May 2, 2018 at 1:04 pm GMT

WTI futures have been holding within a consolidation area since April 18 with upper boundary the 69.35 resistance level and lower boundary the 67.10 support, while the 20- and 40-simple moving averages in the 4-hour chart are acting as a strong mid-level of the channel. In the short-term, the technical indicators turned their momentum to negative. Looking at momentum oscillators though, they suggest further declines may be on the cards in the short-term. The RSI is below its neutral 50 line, detecting negative momentum, and [..]

Technical Analysis – Gold maintains weak bias in near term; broader trend is neutral since January

Posted on April 30, 2018 at 8:56 am GMT

Gold has plummeted during today’s European session after the bounce off the 1325.75 resistance level. It is worth mentioning that the price has been trading within a trading range since January 25 with the 1365 resistance level being the upper boundary and the 1307 support level the lower boundary as it lacks a clear trend. Technically, in the 4-hour chart, the RSI indicator is sloping to the downside and is approaching oversold levels, while the stochastic oscillator posted a bearish cross within the %K [..]

Technical Analysis – Soybean futures pause bearish action; could bounce up in short-term

Posted on April 24, 2018 at 1:42 pm GMT

Soybean futures for May delivery have already erased half of their gains made from April 3 to April 14 and are now consolidating losses near three-week lows in the four-hour chart. In the short-term, the downward pattern could remain in place as long as the SMAs trend to the downside and prices hold below them. Still, upside movements cannot be ruled out yet since both the RSI and the Stochastics are currently located in the oversold area, with the former fluctuating marginally below [..]

Technical Analysis – WTI crude oil futures stands near 3-year high; bullish bias in near term

Posted on April 24, 2018 at 8:51 am GMT

WTI futures have reversed back up again after finding support at the 67.10 barrier achieved on Monday. The price completed two straight bullish weeks and is approaching the three-year high of 69.52. The bullish picture in the short term is further supported by the technical indicators. In the 4-hour chart, the MACD oscillator is rising and posted a bullish cross with its red trigger line, while the Relative Strength Index (RSI) is approaching the overbought level, near 70. The 20-simple [..]

Technical Analysis – WTI crude oil futures trades below 3-year high; possibility of bearish retracement

Posted on April 17, 2018 at 8:53 am GMT

WTI crude oil futures have been underperforming in the past few hours after the pullback from the more than three-year high of 67.73. When looking at the bigger picture the price has been developing within an ascending move since February 9, retesting several times the diagonal trend line. The technical indicators, in the 4-hour chart, are confirming the bearish correction in price action. After their deep fall, the momentum indicators turned south in the short-term. The RSI indicator is holding slightly below its threshold of [..]

Gold eyes geopolitical developments for direction – Commodity News

Posted on April 12, 2018 at 3:04 pm GMT

Geopolitical jitters returned with a vengeance in recent days, with rising tensions between the US and Russia over Syria triggering a flight to safety and increasing demand for assets like gold. While a further escalation in the situation could push gold prices higher in the near-term, it’s crucial to note that in recent years, such events have tended to have only a short-lived effect on the yellow metal. Gold prices rallied sharply yesterday following news that a US military action [..]

Technical Analysis – Brent crude oil futures retreat after it hits 3-year high of 73.07

Posted on April 12, 2018 at 1:13 pm GMT

Brent crude oil futures surged on Wednesday, hitting a fresh more three-year high of 73.07. The oil completed the third green day in a row yesterday, however, it ended the day well below its peak. Today, the price is heading lower, suggesting a potential bearish correction of the sharp buying interest. In the 4-hour chart, the technical indicators are endorsing the downside retracement as both are moving lower. The RSI has dipped slightly lower and is developing near the overbought territory. The [..]

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