FXTechstrategy Team: Commodity Analysis

GOLD: Loses Upside Steam, Targets Further Downside

GOLD: With GOLD’s inability to follow through higher seeing it closing lower the past week, risk remains lower. This development leaves support standing at the 1,251.56 level where a breach will aim at the 1,215.00 level. Further down, support comes in at the 1,180.00 level with a turn below here shifting attention to the 1,150.00 level. Conversely, resistance lies at the 1,375 level where a breach will target the 1,399.79 level. A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level. All in all, GOLD remains biased to the downside medium term.

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GOLD: Weakens, Targets Further Downside.

GOLD: With GOLD maintaining a bearish tone for a second week in row, further downside is likely. Support comes in at the 1,251.56 level where a breach will aim at the 1,215.00 level. Further down, support resides at the 1,180.00 level with a turn below here shifting attention to the 1,150.00 level. Conversely, resistance lies at the 1,375 level where a breach will target the 1,399.79 level. A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level. All in all, GOLD remains biased to the downside medium term.

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Federal Reserve USA is said to be 4500 tons of gold light because of this it has been alleged that the gpld price is being manipulated down!
Lot's of interesting stuff on u tube regarding this!
 
CRUDE OIL: Set To Weaken Further

CRUDE OIL: Crude Oil continues to hold on to its broader downside bias as it looks to weaken further towards the 92.51 level. This leaves the risk of a return to the 92.00 level on the cards. A breach of here will turn attention to the 91.00 level followed by the 90.00 level and then the 89.00 level. Its weekly RSI is bearish and pointing lower suggesting further downside. Resistance is seen at the 98.29 level where a violation will aim at the 100.00 level followed by the 101.00 level where a breach will aim at the 101.50 level. Further out, resistance comes in at the 102.00 level with a cut through here turning attention to the 103.00 level. All in all, Crude Oil remains biased to the downside in the medium term.

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Brent crude nearly slips to $108 at the start of this week from the discussions by World powers on Iran's oil sanctions and also upcoming US monetary policy which is expected to still bring down the prices, The main reason comes to Iran oil sanction, about 1Mn barrels/day were kept on Iran from global markets and any deal that finalizes from the talks will result in selling huge amounts depressing the market further.
 
CRUDE OIL: Loses Upside Steam, Vulnerable

CRUDE OIL: With the commodity bearish following a reversal of its Tuesday gains to close lower on Wednesday, further weakness cannot be ruled. Support comes in at 95.63 level where a breach will bring further downside towards the 94.00 level. Further down, support lies at the 92.00 level with a breach of here leaving the risk of a return to the 91.50 level. Its daily RSI has turned lower supporting its present bearish tone. Conversely, resistance resides at the 98.85 level and then the 100.00 level where a breach will aim at the 101.50 level. Further out, resistance comes in at the 102.00 level. All in all, Crude Oil remains biased to the downside on price failure.

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GOLD: Vulnerable, Maintains Broader Downside.

GOLD: Although closing marginally lower the past week, GOLD continues to retain its downside bias. Immediate support lies at the 1,211.65 level. A cut through here will aim at the 1,200.00 level with a turn below here calling for a retake of the 1,180.00 level. Further down, support resides at the 1,150.00 level with a turn below here shifting attention to the 1,100.00 level. Conversely, a continued upside, the commodity will target the 1,300.00 level followed by the 1,350.00 level and possibly higher towards the 1,399.79 level. All in all, GOLD remains biased to the downside medium term despite its recovery attempts.

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CRUDE OIL: Slides, Faces Third Day of Decline.

CRUDE OIL: With Crude Oil remaining bearish and pointing lower following its continued downside pressure, it faces the risk of further decline in the days ahead. This view remains valid as long as CRUDE OIL trades and holds below the 100.75 level. Support lies at the 95.00 level where a violation if seen will aim at the 93.93 level, its Dec 03’2013 low. Further down, a break of here will pave the way for a run at the 93.00 level. Further down, support comes in at the 92.00 level, its psycho level and subsequently the 91.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 97.00 level followed by the 98.50 level. A cut through here could propel the commodity further higher towards the 99.39 level, its Dec 31’2013 high. Bulls may come in here but if that fails to happen expect further bullishness towards the 100.75 level, representing its Dec 27’2013 high. All in all, Crude Oil remains biased to the downside on further bearishness.

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GOLD: Weak And Vulnerable Below Trendline Resistance

GOLD: Weak And Vulnerable Below Trendline Resistance

GOLD: The commodity remains weak and vulnerable to the downside following its Tuesday failed recovery. As long as the 1,267.75 level, its Dec 10’2013 high and its declining trendline continue to hold as resistance, risk remains lower. Support comes in at the 1,218.35 level, representing its Jan 08’2014 low. This level must hold to prevent a return to the 1,182.33 level, its Dec 31’2013 low from occurring. However, if that level is violated it will aim at the 1,150.00 level followed by the 1,100.00 level with a turn below the latter shifting attention to the 1,050 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1,267.75 level, its Dec 10 2013 high. A cut through here will create scope for a move higher towards the 1,300.00 level where a violation if seen will turn focus to the 1,350.00 level. All in all, GOLD remains biased to the downside in the medium term.

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GOLD: Turns Lower, Set To Extend Weakness

GOLD: With GOLD failing to hold above the 1,267.75 level, its Dec 10 2013 high and turning lower the past week, further decline is likely in the new week. Support comes in at the 1,231.48 level. Further down, support resides at the 1,218.35 level, representing its Jan 08’2014 low. This level must hold to prevent the commodity from returning to the 1,182.33 level, its Dec 31’2013 low. However, if that level is violated it will turn attention to the 1,150.00 level followed by the 1,100.00 level. Conversely, a return above the 1.279.08 level and its declining trendline resistance is required to annul its present bear pressure and trigger further upside towards the 1,300.00 level where a violation if seen will turn focus to the 1,350.00 level. Further out, resistance stands at the 1,400.00 level, its psycho level. All in all, GOLD remains biased to the downside medium term.

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CRUDE OIL: Halts Weakness, Looks To Retake The 98.58 Level.

CRUDE OIL: With Crude Oil halting its two-day weakness and recovering higher on Tuesday, the risk is for a retake of the 98.58 level, its Jan 30 2014 high to occur. Further out, resistance comes in the 99.38 level, representing its Dec 31 2013 high. A turn above here will set the stage for more recovery towards the 100.00 level with a breach of there turning focus to the 100.74.00 level, its Dec 27 2013 high. On the downside, support comes in at the 96.26 level, its Feb 03 2014 low with a break targeting the 95.67 level. A cut through here will turn attention to the 95.00 level with a breach of here shifting focus to the 94.00 level, its psycho level. All in all, Crude Oil remains biased to the upside in the medium term.

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GOLD: Turns Off Ahead Of The 1,279.08 Level. Faces Consolidation Risk

GOLD: With attempts of resuming its short term uptrend failing on Wednesday for a marginal higher close, consolidation above its broken falling trendline may continue. If however GOLD retakes the 1,279.08 level, its Jan 27 2014 high to create scope for more upside the 1,300.00 level, its big psycho level will be targeted. A clearance of here if seen will turn focus to the 1,350.00 level. Further out, resistance stands at the 1,400.00 level, its psycho level. Conversely, the risk to this analysis will be a return to the downside towards the 1,231.48 level. Further down, support resides at the 1,218.35 level, representing its Jan 08’2014 low. This level must hold to prevent the commodity from returning to the 1,182.33 level, its Dec 31’2013 low. However, if that level is violated it will turn attention to the 1,150.00 level followed by the 1,100.00 level. All in all, GOLD remains biased to the downside medium term.

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GOLD: Maintains Recovery Strength, Threatens Further Upside.

GOLD: With GOLD remaining biased to the upside, further gain is likely in the days ahead. Despite its price hesitation, its corrective recovery triggered off the 1,182.33 level is intact. Resistance resides at the 1,300.00 level, its big psycho level. A clearance of here if seen will turn focus to the 1,350.00 level. With a breach of here targeting the 1,400.00 level, its psycho level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, the risk to this analysis will be a return below the 1,279.08 level and an eventual retake of the 1,231.48 level. Further down, support comes in at the 1,218.35 level, representing its Jan 08’2014 low. This level must hold to prevent the commodity from declining further towards the 1,182.33 level, its Dec 31’2013 low. All in all, GOLD remains biased to the upside in the short term.

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Commodity Technical Outlook On GOLD

GOLD: Remains Biased To The Upside

GOLD: With GOLD maintaining its upside bias, we expect further strength to occur in the new week. However, it will have to retake the 1,332.09/1,328.00 levels to create scope for more upside. Further out, resistance resides at the 1,350.00 level with break of here turning focus to the 1,400.00 level. Additionally, resistance stands at the 1,450.00 level, its psycho level and possibly higher towards the 1,480.00 level. Conversely, the risk to this analysis will be a return to the 1,300.00 level. We expect that level to hold and turn the pair higher. However, if this fails to occur, expect more weakness to happen towards the 1,231.48 level. Further down, support comes in at the 1,218.35 level, representing its Jan 08’2014 low. This level must hold to prevent the commodity from declining further towards the 1,182.33 level, its Dec 31’2013 low. All in all, GOLD remains biased to the upside in the medium term.

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Commodity Technical Outlook On GOLD

GOLD: Vulnerable To The Downside

GOLD: GOLD remains vulnerable to the downside having continued to maintain below the 1,345.28 level. We believe its present bear threat is temporary suggesting it will fade and return to mentioned level. However, it will have to retake the mentioned level to annul its present bear threats. Further out, resistance resides at the 1,400.00 level. Additionally, resistance stands at the 1,450.00 level, its psycho level and possibly higher towards the 1,480.00 level. Conversely, the risk to this analysis will be a return to the 1,300.00 level where bulls may come in. But if taken out, further decline is likely towards the 1,300.00 level. We expect that level to hold and turn the pair higher. However, if this fails to occur, expect more weakness to happen towards the 1,231.48 level. Further down, support comes in at the 1,218.35 level, representing its Jan 08’2014 low. All in all, GOLD remains biased to the upside in the medium term.

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GOLD: Weighed Down By Bears.

GOLD: With GOLD reversing its intra-day gains to weak further today, further downside pressure is now envisaged. Key support lies at its big psycho level at the 1,300 .00. We expect bulls to come in here and push it higher but if broken further downside is likely towards the 1,280.00 level followed by the 1,250 level. Its daily RSI bearish and pointing lower supporting this view. On the upside, for GOLD to annul its correction it will have to recapture the 1,367.40 level, a tough call based on its present price action. Further out, resistance resides at the 1,388.95 level, its Mat 17 2014 high followed by the 1,400.00 level, its psycho level. A break will trigger further upside pressure towards the 1,450.00 level, its psycho level. All in all, GOLD remains biased to the downside in the short term despite recovery attempts

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