Commodities

Technical Analysis – WTI crude oil futures tumble in short-term extending its losses below 61.8% Fibonacci mark

Posted on February 13, 2018 at 10:09 am GMT

WTI crude oil futures are continuing the bearish movement following the strong pullback from the 60.80 resistance level during Monday’s session. Prices have been touching the 61.8% Fibonacci retracement level at 59.30 of the up-leg from 54.80 to 66.60 over the last hours, finding strong support obstacle. The bearish picture in the short-term is supported by the RSI indicator. In the 4-hour chart, the aforementioned indicator is moving slightly lower in the negative territory near the 30 level and is [..]

Technical Analysis – Gold is heading lower; looking bearish in short-term

Posted on February 12, 2018 at 2:17 pm GMT

Gold is trading lower following the strong pullback on the 1366 resistance level on January 25. Having a look at the short-term timeframe the price almost hit the 38.2% Fibonacci retracement near 1316 level of the last up-leg with the low of 1236 and the high of 1366. The bearish correction is confirmed by the near-term technical indicators. In the 4-hour chart, the RSI indicator is sloping to the downside below the 50 level, while the stochastic oscillator posted a bearish crossover [..]

Special Report – Why has gold remained indifferent to stock market volatility?

Posted on February 9, 2018 at 3:24 pm GMT

The classic narrative that safe havens rally when stocks plunge is on shaky legs right now. While major US equity indices have dropped roughly 10% in a matter of days, gold has actually moved lower over the same period, leaving most investors puzzled. Why has gold’s response been so muted, and what do the cards hold for the precious metal moving forward? A variety of factors can be blamed for gold’s indifference to the market turbulence. First and foremost is [..]

Technical Analysis – Silver dips below 16.73; more downside move is expected

Posted on February 7, 2018 at 2:48 pm GMT

Silver has come under pressure since Tuesday’s session, in the short-term timeframe. The price slipped below the 16.73 barrier and continues the strong bearish movement. As a side note, the precious metal has been trading within a descending triangle since July 2016. In the short-term timeframe, technically, the bias is bearish. Momentum indicators are also endorsing the decline. The MACD oscillator entered the negative territory, while the RSI indicator is heading lower below the 50 level. If price action remains below 16.73 (immediate resistance), there [..]

Technical Analysis – WTI crude oil futures hold below 23.6% Fibonacci level, near 3-week low

Posted on February 6, 2018 at 3:07 pm GMT

WTI crude oil futures have been trading slightly lower over the last few hours and created a 3-week low of 63.10. Having a look at the bigger picture the price is endorsing the scenario for further losses, while the short-term timeframe indicates an upward tendency. In the 4-hour chart, the price dropped below the 23.6% Fibonacci retracement level at 63.84 of the last big upward movement with the low of 54.80 and high of 66.60. The RSI indicator is pointing to the upside above the 30 level. Additionally, the [..]

Technical Analysis – Gold surpasses 23.6% Fibonacci mark, extending gains

Posted on February 5, 2018 at 2:23 pm GMT

Gold is trading higher in the last few hours, following the strong rebound on the 1327 support level and successfully surpassed the 23.6% Fibonacci retracement level at 1335 of the last big upward movement with the low of 1236 and the high of 1366. In the 4-hour chart, the technical indicators seem to be turning positive. The short-term technical indicators seem to be turning positive and point to more strength in the market. The RSI indicator is pointing sharply to the upside, below the [..]

Gold advances as USD collapses, but risk of a correction appears elevated – Commodity news

Posted on February 1, 2018 at 9:43 am GMT

Gold prices advanced in January, as the weaker US dollar and some seasonal effects boosted the appeal of the precious metal. While gold’s broader direction still appears to be higher, there is an increasing risk of a near-term correction lower, before the next leg up in the metal. Gold, like most other precious metals, is traded in US dollars. The implication of this is that when the greenback falls in value, the dollar-denominated metal becomes “cheaper” to buy for investors [..]

Are oil prices at risk of a “long squeeze”? – Commodity News

Posted on January 31, 2018 at 3:43 pm GMT

Oil prices have had a good run so far in 2018. WTI rallied 6.5% in just the first month of the year, boosted by a softer US dollar and declining crude inventories in the US. However, recent developments suggest that the positive sentiment surrounding the energy market may be on thin ice right now, and a near-term correction should not be ruled out. Oil is traded in US dollars. This implies that when the greenback depreciates, oil becomes more attractive [..]

Technical Analysis – Silver struggles below symmetrical triangle again; more gains are expected

Posted on January 31, 2018 at 3:12 pm GMT

Silver has come under strong pressure over the last trading days, in the short to medium-term timeframe, following the pullback on the 17.70 resistance level. The price penetrated to the upside of the symmetrical triangle that was holding since July 2017 and ended several days above the descending trend line. However, on Monday, the price slipped again below the diagonal line. From the technical point of view, the white metal is developing above the short-term 20 and 40 simple moving averages, and is endorsing again [..]

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