Commodities Technical Analysis and Strategies for Wednesday, April 15 2015

Gold

Gold markets fell during the bulk of the session on Tuesday, but found good support above the 1180 level to turn things back around and formed a hammer. With this, we believe that the market should continue to go between the 1180 level on the bottom, and the 1220 level on the top. It seems as if we are ready to rally at this point and head back towards the 1220 level given enough time. Considering both ways, this is a short term traders market and so, we will have to be very nimble.

Gold Technical Chart

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SILVER

Silver markets fell during the session on Tuesday, but found enough support at the $16 level to turn things back around and formed a hammer. With this, we believe that the market is going to continue to consolidate and it’s only a matter of time before we break out to the upside. That breakout is expected below the 17.50 level in our opinion, and as a result we believe that this is a short-term buying opportunity.

Silver Technical Chart

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CRUDE OIL

Light sweet crude oil markets rose during the course of the session on Tuesday, but failed to break above the $54 level. We believe that there is a significant amount of resistance at the $55 level as well, where there is no potential for buying opportunity. We are looking for some type of resistive candle in order to start selling. In order to start buying, we believe that a break above $56 is needed , so at this point of time we are still very bearish in this market. Our approach towards the top of the resistance barrier and more importantly the consolidation area, we believe that the sellers will step back in. So, we do not see any buying opportunity yet.

Silver Technical Chart

Crude Oil Technical analysis for 17/03/2016

U.S. crude oil stocks rose last week rose to record highs for a fifth straight week while gasoline inventories fell amid strong demand for the motor fuel, data from the Energy Information Administration showed on Wednesday. Crude inventories increased 1.3 million barrels in the week to March 11 to 523.2 million, a much smaller build than the 3.4 million-barrel increase expected by analysts. By 10:55 a.m. EDT, U.S. futures were up 3.7 percent at $37.71 per barrel. 

Crude Oil

On technical chart, Very short term trend of crude oil is bullish on chart. On its, 4 hourly chart, market has been making higher lows and higher highs from past few trading session. Crude oil also took support of 50 DMA and bounce back from the same on 4 hourly chart. It has been trading with support of SMA50 and SMA200 with appearance golden cross. Now it can test the next resistance of   41.90. On lower side it is having support of previous significant low of 35.90. On daily charts it has strong bullish candle. RSI is sustaining in its positive territory indicating the bearish trend on intra day basis.

Crude Oil technical Chart

Technical Pivot Levels

Commodity	R2	R1	S1	S2
GOLD	1284	1264	1224	1190
SILVER	16.35	15.82	15.11	14.6
CRUDE OIL	41.90	39.80	38.30	36.60
COPPER	2.2800	2.2570	2.2100	2.1890
NATURAL GAS	1.980	1.916	1.755	1.600
PLATINUM	1008	990	947	925
PALLADIUM	610	584	555	528

Crude Oil Technical Analysis as on 27/01/2016

Crude Oil Inventory Report 

The American Petroleum Institute's weekly crude Oil stockpile report released late Tuesday showed an 11.4 million barrels build, well above the 3.5 million barrels seen. Separately, Wednesday's report from the U.S. Department of Energy could show that domestic crude inventories rose by 3.5 million barrels for the week ending on January 22. 

Technical analysis

The Crude oil market rose during the day on Tuesday. It has been observed that from last several sessions market is not sustaining below the level of $30.00 level, and trying to bounce from lower level. If market is continuing the consolidate above that level, we believe that market can test the level of $32.00 and it will offer a bit of resistance. On its, 4 hourly chart, market is trading between the downward channel. Resistance is seen near down trend resistance trend line at  the level of $34.00 supported by EMA200, while support is seen near the psychological level at $30 supported by EMA50 . On intra day basis we suggest to stay away from the market to monitor the price behavior in the market. We expect crude prices to trade sideways as recent hopes of agreement between OPEC and other producers to curtail output will be supportive. However, investors will be cautious ahead of FOMC statement due tonight.  

Technical Chart

              

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Commodity Trading Technical Levels 

	R2	R1	S1	S2
GOLD	1138	1126	1109	1098
SILVER	14.82	14.62	14.24	14.08
CRUDE OIL	33.24	32.42	30	29
COPPER	2.0394	2.0150	1.99	1.9438
NATURAL GAS	2.282	2.223	2.051	1.990
PLATINUM	900	888	861	844
PALLADIUM	532	512	478	469

Crude Oil Trading Technical Analysis for Today

Crude Oil Technical Analysis

Crude oil prices remained flat on Monday to close at $35.70 per barrel as it remained above its 2009 low and settled up a penny a barrel as trader's squared positions ahead of the January contract's expiration. Record high global oil production, more supplies to be expected from Iran and Libya will further suppress the market sentiments and exert downside pressure on oil supplies. On its 4 hourly chart, market is continue resist by SMA50, which indicate the strong bearish trend ans its RSI is sustaining in its selling zone indicating the upcoming bearish trend. MACD is also printing below its zero level. Crude oil prices is having strong resistance at $38.50 which is supported by EMA50, while support is seen neat the psychological level at $35.00.  On intra day basis Crude oil is looking bearish on charts for. One can go for sell position below the  level of $35.60. Trading volumes are expected to be thin in the coming trading session as many will be away from their desks for the Christmas and New Year holiday season.

Crude Oil Technical Chart

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  Commodities Support/Resistance for the day 

	R2	R1	S1	S2
GOLD	1111	1089	1066	1046
SILVER	14.64	14.42	13.96	13.78
CRUDE OIL	39.05	37.12	35.00	34.00
COPPER	2.1625	2.1444	2.0657	2.0165
NATURAL GAS	2.083	2.025	1.875	1.770
PLATINUM	904	885	856	832
PALLADIUM	603	561	537	523

Comex Signal Technical Analysis and Strategies for Wednesday, April 01 2015

Gold

Gold markets went back and forth during the session on yesterday, testing the 1180 level. This is an area which is important in this market as it was a support. We believe that the bounce from here will more than likely test the $1200 level next. On the other hand, if we break down below the bottom of the range for the Tuesday session, this market will more than likely head back down to the 1150 level.

Gold Technical Chart

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SILVER

The silver markets initially fell during the course of the day on yesterday, but struggled to keep the losses as the 16.50 level offered support. This is an area that has offered support and resistance both several times, and as a result it has affected the market again. The support resulted in turning the market around and forming a hammer, which is bullish. If we can break the top of this hammer, we believe that the market then heads to the 17.50 level given enough time. The 17.00 level will be a bit resistive but we feel that it will break above.

Silver Technical Chart

CRUDE

The light sweet crude market fell during the session on yesterday, testing the $47.50 level for support. The $47 level below that is supportive, but if we can break below there, we should see this market fall even lower and heading to the $45 level. The market has been very bearish, and this is a market that we think will sell off every time it rallies. The market should continue to fall based on not only upon the less demand, but also the rising value of the US Dollar. The $50 level above should be resistive. 

Crude Oil Technical Chart