FXTechstrategy Team: Commodity Analysis

[FXTechstrategy Team]

CRUDE OIL: Sees Further Bearish Momentum.

CRUDE OIL: With the commodity selling off further the past week, we look for it to decline further in the new week. Support lies at the 86.00 level where a break could drive Crude Oil further lower towards the 83.64 level. Further down, support stands at the 82.00 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, initial resistance resides at the 87.69 level while the distant one lies at the 93.63 level. It will have to close above here to put its present downside pressure on hold. Further out, the 97.20 comes in as the next upside target. All in all, Crude Oil continues to face downside risks.

 

[FXTechstrategy Team]

GOLD: Weakens, Bears Dominate Price Action.

GOLD: GOLD continues to weaken selling off strongly through the 1,698.00 level and opening the door for additional downside pressure. In such a case, the 1,667.00 level will be targeted with a cut through here allowing for more declines towards the 1,640.45 level. Further down, support lies at the 1,600.00 level where a respite is likely to occur. On the upside, the commodity must overcome its resistance the at the 1,698 level to reverse its current bearishness. This if seen will call for a run at the 1,750.00 where a violation will call for a move higher towards the 1,795 level. A violation of here will resume its medium term uptrend towards the 1,800.00 level. Further out, resistance comes in at the 1.850 level where. All in all, GOLD continues to hold on to its bearishness as it looks to weaken further in the days ahead.

 

[FXTechstrategy Team]

GOLD: Extends Corrective Recovery, Eyes The 1,743.00 Level.

GOLD: With the commodity bullish and extending its recovery initiated from the 1,672.23 level, there is risk of a run at the 1,743.50 level. A cut through here will open the door for more gains towards the 1,750.00 where a violation will call for a move further higher towards the 1,795 level. Price hesitation may occur here and turn the commodity back lower. However, if this fails to occur, we could see GOLD resuming its medium term uptrend towards the 1,800.00 level. Further out, resistance comes in at the 1.850 level. Its daily RSI is Bullish and pointing higher supporting this view. On the downside, support lies at 1,705.20 level where a breach will call for a run at the 1,640.45 level. A cut through here will allow for more declines towards the 1,600.00 level where a respite is likely to occur. Further down, support comes in at the 1,580.00 level. All in all, GOLD continues to hold on to its corrective recovery tone as it looks to extend more upside.

 

[sambazone]

Re: GOLD: Extends Corrective Recovery, Eyes The 1,743.00 Level.

If market liquidation will ensue, with S&P breaking 1300 and dollar going up, I think gold will suffer as well.

 

[FXTechstrategy Team]

GOLD: Triggers Recovery, Eyes Further Upside Pressure.

GOLD: The commodity halted its declines and triggered a corrective recovery the past week. This development leaves GOLD targeting the 1,750.00 where a violation will call for a move further higher towards the 1,795 level. A violation of here will resume its medium term uptrend towards the 1,800.00 level. Further out, resistance comes in at the 1.850 level. Its weekly RSI has turned higher supporting its corrective tone. On the downside, support lies at 1,705.20 level where a violation will call for a run at the 1,640.45 level. A cut through here will allow for more declines towards the 1,600.00 level. A respite is likely to occur here but if that fails, expect Gold to weaken further towards the 1,580.00 level. All in all, GOLD is biased to the upside on correction.

 

[FXTechstrategy Team]

CRUDE OIL: Trendline Resistance Set To Cap Recovery.

CRUDE OIL: With a clear correction yet to be established, Crude Oil remains biased to the downside in the short term. This view remains valid as long as the commodity holds below its declining trendline resistance. Support lies at the 84.04 level where a breach could drive Crude Oil further lower towards the 83.50 level. We may see a halt in declines here if seen but if it breaks further downside will aim at the 82.08 level. On the upside, it will have to break and hold above the 91.25 level to trigger a meaningful correction. Further out, resistance resides at the 92.00 level andthe 93.63 level. All in all, Crude Oil continues to face downside risks despite recovery attempts.

 

[FXTechstrategy Team]

Commodity Technical Outlook: GOLD

GOLD: Bull Pressure Points Higher Medium Term

GOLD: Despite its past week pullback, the commodity continues to maintain its broader upside. This suggests the risk of returning the 1,738 level remains on the cards. As long as it trades and holds above its rising long term trendline, this view remains valid. Resistance resides at the 1,750.00 level where a break will push it further towards the 1,795 level. A violation of here will resume its medium term uptrend towards the 1,820.00 level. Further out, resistance comes in at the 1.850 level. On the downside, support lies at 1,705.20 level where a breach will call for a run at the 1,640.45 level. A cut through here will allow for more declines towards the 1,600.00 level. A respite is likely to occur here but if that fails, expect Gold to weaken further towards the 1,580.00 level. All in all, GOLD is biased to the upside in the medium term.

 

[FXTechstrategy Team]

GOLD: Medium Term Upside Remains Intact.

GOLD: Our outlook on GOLD remains to the upside with the risk of a return to the 1,738 level a likely scenario. As long as it trades and holds above its rising long term trendline, this view remains valid. Resistance resides at the 1,750.00 level where a break will push it further towards the 1,795 level. A violation of here will resume its medium term uptrend towards the 1,820.00 level. Further out, resistance comes in at the 1.850 level. On the downside, support lies at 1,705.20 level where a breach will call for a run at the 1,640.45 level. A cut through here will allow for more declines towards the 1,600.00 level. A respite is likely to occur here but if that fails, expect Gold to weaken further towards the 1,580.00 level. All in all, GOLD is biased to the upside.

 

[resin17]

Re: Commodity Technical Outlook: GOLD

I doubt GOLD is going to go into the 1600$ range anymore, however, some 50-100$ pullbacks are possible.

 

[resin17]

Re: GOLD: Triggers Recovery, Eyes Further Upside Pressure.

Gold is a bit subdued this week due to the USDX bounce, but should continue to the upside in the weeks to come. (Note: Do not use this is a trade advice and always protect yourself with SLs).

 

[FXTechstrategy Team]

GOLD: Under Bear Pressure, Sets Up For More Downside.

GOLD: Although GOLD continues to hold on to its broader medium term uptrend, further downside pressure could be building up. This is coming on the back of a reversal of its previous week gains at the end of the week. Support lies at 1,672 level where a break will target the 1,640.45 level. A cut through here will allow for more declines towards the 1,600.00 level. A respite is likely to occur here and turn the commodity higher. Conversely, resistance resides at the 1,753 level where a violation will call for a run at the 1,774 level. A cut through here will call for a run at the 1,795 level and then the 1,827.85 level. All in all, GOLD is biased to the upside medium term though facing a corrective pullback.

 

[FXTechstrategy Team]

GOLD: Bearish, Sets Up For More Declines.

GOLD: With the commodity remaining vulnerable and bearish, it looks to decisively break and hold below the 1,672.23 level. While it may be holding below here as at the time of this report, it will have to do that on a weekly closing basis. A continued hold below here will turn attention to the 1,640.45 level with a cut through there allowing for a push further lower towards the 1,600.00 level. A respite is likely to occur here and turn the commodity higher. Its daily RSI is bearish and pointing lower supporting this view. Conversely, a return above the 1,753 level will open up further risk towards the 1,774 level. A cut through here will call for a run at the 1,795 level and then the 1,827.85 level. All in all, GOLD remains vulnerable to the downside.

 

[FXTechstrategy Team]

CRUDE OIL: Bullish, Eyes Key Resistance.

CRUDE OIL: With continued upside offensive seen, Crude Oil now looks to retarget the 90.30 level, its Dec 03’2012 low. The commodity will have to break and hold above here to convince the market of further upside. As long as the the 90.30 level remains unbroken, the risk is for it to reverse its present gains and recapture its key support located at the 84.04 level. A breach of here will aim at the 83.00 level and then the 81.00 level. On the other hand, the commodity will have to break and hold above 90.30 level to create scope for more upside towards the 91.25 level. Further out, resistance resides at the 92.00 level. All in all, Crude Oil continues to strengthen on correction.

 

[FXTechstrategy Team]

GOLD: Recovering With Caution

GOLD: Recovery attempts continue to occur leaving the commodity threatening further upside. This leaves the 1,703 level as the next upside target followed by the 1,720 level. We expect its declining trendline (red) resistance to cap further upside gains if seen. While that level caps, there is still downside risk. In such a case, the 1,640.45 level will be targeted with a cut through there allowing for a push further lower towards the 1,600.00 level. A respite is likely to occur here and turn the commodity higher. All in all, GOLD may be recovering but remains vulnerable to the downside short term below trendline resistance.

 

[FXTechstrategy Team]

GOLD: Bear Threat Remains In Force.

GOLD: Unless GOLD triggers a corrective recovery following its flat close the past week, our broader bias remains to the downside. Support lies at its December 2012 low at 1,625 level. Further declines could mean a return to the 1,600.00 level, its key psycho level. We expect a price hesitation to occur here if tested but if broken we could see further weakness towards the 1,582.10 level. Its weekly RSI is bearish and pointing lower supporting this view. GOLD must return to 1,694 level to reverse its present downside and bring further upside towards the 1,720 level. We expect its declining trendline (red) resistance to cap further upside gains if seen. All in all, GOLD remains vulnerable to the downside.

 

[Joules MM1]

Re: GOLD: Bear Threat Remains In Force.

All in all, GOLD remains vulnerable to the downside.

and some people would say...all in all vulnerable to rocket...isnt it

hat tip iTrader for the jpeg

hehe

 

[FXTechstrategy Team]

CRUDE OIL: Continues To Maintain Its Upside Bias.

CRUDE OIL: With the commodity continuing to maintain a firm hold on the upside, further strength is envisaged. Immediate resistance lies at the 93.63/81 levels with a break targeting the 94.50 level. As long as Crude Oil holds and trades above the 90.30 level, our upside bias on the commodity remains intact. Its daily RSI is bullish and pointing higher supporting this view. Support lies at the 91.51 level where a violation will target the 90.30 level. A reversal of roles may occur here. Further down, support comes in at the 89.98 level where a violation will call for a run at the 87.94 level. All in all, Crude Oil remains biased to the upside above its key resistance at 90.30 level.

 

[WR1]

Re: CRUDE OIL: Continues To Maintain Its Upside Bias.

Crude Oil usually rises / breakouts end of Jan up into Feb/March, so likely putting in a base

but now ive wrote, it will probably tank end of Jan

 

[FXTechstrategy Team]

GOLD: Still Faces Downside Risks.

GOLD: While GOLD may have halted its declines and triggered a mild recovery, it still faces bear threats. As long as GOLD remains below its declining trendline resistance, our broader bias remains lower. Support lies at its December 2012 low at 1,625 level. Further declines could mean a return to the 1,600.00 level, its key psycho level. We expect a price hesitation to occur here if tested but if broken we could see further weakness towards the 1,582.10 level. Its weekly RSI is bearish and pointing lower supporting this view. GOLD must return to 1,694 level to reverse its present downside and bring further upside towards the 1,720 level. We expect its declining trendline (red) resistance to cap further upside gains if seen. All in all, GOLD remains vulnerable to the downside.

 

[Romchexx]

Re: GOLD: Still Faces Downside Risks.

I trade Gold in a really simple way :

EMA 164 (daily chart)
MA : 480 (daily chart)

We are currently between these two I'm waiting for clear bear or bull move.