commodities

Technical Analysis – WTI crude oil futures post neutral sessions; Bollinger bands act like obstacles

Posted on March 13, 2018 at 9:29 am GMT

WTI crude oil futures have been moving sideways over the last few sessions in the 4-hour chart, signaling weak momentum. The price hit several times the 20-simple moving average but failed to trade lower. Having a look at the bigger picture, oil has lost its aggressive buying interest but remains in bullish territory. In the 4-hour chart, the RSI indicator is flattening slightly below the 50 level, while the stochastic oscillator posted a bullish crossover within its moving averages above the 20 level. It is worth mentioning that [..]

Technical Analysis – Gold bearish structure remains in focus; slips below 23.6% Fibonacci retracement level

Posted on March 12, 2018 at 12:04 pm GMT

Gold is posting a bearish day after finding resistance at the 40-simple moving average in the 4-hour chart. Moreover, the price dropped below the 23.6% Fibonacci retracement level at 1317.80 of the downleg from 1366 to 1303, endorsing the scenario for further losses. Looking at the 4-hour chart, the Relative Strength Index (RSI) is sloping to the downside in the negative territory, while the MACD oscillator created a bearish cross within its moving averages below the zero line, signaling the downside movement is continuing. The [..]

Technical Analysis – WTI crude oil futures extend their gains; move towards 61.8% Fibonacci retracement level

Posted on March 6, 2018 at 1:40 pm GMT

WTI crude oil futures are surging after the rebound on the 60.10 support level, which overlaps with the 23.6% Fibonacci retracement level of the downleg from 66.60 to 58.00. Currently, the price is aggressively approaching the 61.8% Fibonacci mark near the 63.40 resistance level, while it jumped above the 40-simple moving average in the 4-hour chart. Technically, in the short-term, the MACD oscillator climbed above the zero line with strong momentum and the RSI indicator is pointing to the upside after flat sessions. Also, [..]

Technical Analysis – WTI crude oil futures falling following bounce off 3-week high

Posted on February 27, 2018 at 11:53 am GMT

WTI crude oil futures are edging marginally lower today, following the pullback from the 3-week high of 64.20 resistance level. When looking at the bigger picture, price action maintains a bullish tone, however, a small downside retracement is possible. In the short-term timeframe, the technical indicators seem to be slightly negative. In the 4-hour chart, from the technical point of view, the MACD oscillator is falling – though it remains in the positive zone – and is looking ready to post a bearish cross with its trigger line, while [..]

Technical Analysis – Gold eases after sharp upward move earlier in the day

Posted on February 26, 2018 at 1:57 pm GMT

Gold is heading south over the last couple of hours, while it started the day in green. In the 4-hour chart, the precious metal is developing within the 50.0% and 61.8% Fibonacci retracement levels of the downleg with the high of 1366 and the low of 1307. The price struggled within 1336 and 1343 after the aggressive jump towards 1340.90 during today’s European session. In the near-term, the technical indicators suggest that negative movements are more likely to occur given that the RSI is sloping downwards in the [..]

Technical Analysis – WTI crude oil futures see bullish bias with scope to extend higher

Posted on February 21, 2018 at 1:31 pm GMT

WTI crude oil futures have been underperforming since yesterday’s trading period, however over the last few hours they are trying to gain some ground. In the short-term timeframe, the technical indicators seem to be in confusion as they are giving signals for opposite tendency. In the 4-hour chart, the MACD oscillator is falling in the positive zone below its trigger line, approaching the zero line. However, the stochastic oscillator recorded a bullish crossover in the oversold territory, suggesting a retracement of the bearish bias. [..]

Technical Analysis – Gold eases near 23.6% Fibonacci level; looking bearish in short-term

Posted on February 20, 2018 at 3:07 pm GMT

Gold is heading south following the strong pullback on the 1361.40 resistance level on Friday. Having a look at the short-term timeframe the price almost hit the 23.6% Fibonacci retracement near the 1335 level of the last up-leg with the low of 1236 and the high of 1366. The bearish correction is confirmed by the MACD oscillator. In the 4-hour chart, the MACD is falling near the zero line and below its trigger line, while the stochastic oscillator posted a bullish crossover in the oversold zone, suggesting [..]

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 [..]

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 [..]

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