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Christian KÄMMERERHead of German Speaking Markets
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Research is to see what everybody else has seen,
and to think what nobody else has thought.
- Albert Szent-Gyorgyi
Barbara NICODEMOUMarket Analyst
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Research is creating new knowledge.
- Neil Armstrong
Melina DELTASJunior Market Analyst
Monday, 19 December 2016 09:53

Brent Recorded a New 17-Month High

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Published in Commodites & Metals

The Brent Crude Oil is moving higher, more than 14% so far the last two months, as well as it is recording the second positive month in a row. The oil is moving within an ascending move over the five months and during the previous week, it created a fresh 17-month high at $57.60.

The daily chart shows that the price is now moving well above the three SMAs (50-SMA, 100-SMA and 200-SMA) between the $47.00 and $53.50 barriers. The technical indicators are sloping upwards and they are moving above its mid-levels. The RSI indicator lies above the 50 level and is approaching the 70 barrier while the MACD oscillator is moving near its trigger line. For now, we would expect the pressure to remain to the upside as the technical structure suggests further upside movement until the latter level as the price moving near the $56.00 price level.

BrentCrudeDaily191216.png

Friday, 16 December 2016 08:51

Gold Plummeted More Than 13% Since October

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Published in Commodites & Metals

The precious metal created an aggressive sell-off since October as it plunged more than 13% and is currently recording the sixth negative week in a row. The XAU/USD affected from the U.S. dollar sharp rally to the upside and is falling for the third consecutive month. Meanwhile, the pair printed a fresh 11-month trend low at $1,122 following the significant bounce off the $1,337 resistance handle.

The technical structure remains bearish as the three SMAs (50-SMA, 100-SMA and 200-SMA) are pointing downwards with strong momentum while the technical indicators are following a negative path. The Relative Strength Index (RSI) is moving in an oversold area despite that is pointing upwards. The MACD oscillator crossed its trigger line to the downside while it lies below its mid-level. The next strong support level to watch is the $1,055 but do not forget the scenario for a correction to the upside until the $1,160 barrier.

XAUUSDDaily161216.png

Tuesday, 13 December 2016 08:16

WTI Jumped to 18-Month High

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Published in Commodites & Metals

The second economic event flooded the headlines is the oil price that climbed at 18-month high yesterday, after OPEC and non-OPEC members sealed a deal to reduce oil production, in order to tackle global oversupply. Moreover, Saudi Arabia signaled that it’s ready for deeper cuts, leaving the door open for further oil output cuts that will send the oil prices higher.

The West Texas

...
Monday, 12 December 2016 10:53

Gold Plunged More Than 11% Since November

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Published in Commodites & Metals

The yellow metal plunged more than 11% since last month and created the fifth negative week in a row following the strong rebound on the $1.337 resistance barrier. The XAU/USD pair is moving near the $1,155 price level and continues its downward movement with strong momentum.

The technical structure remains bearish, as on the daily chart the technical indicators are following an

...
Friday, 02 December 2016 08:54

WTI Crude Oil Almost Reached Our Target

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Published in Commodites & Metals

WTI Crude Oil Culminate after OPEC – Russia Deal
OPEC – Russia reached a deal, on Wednesday, to cut oil output for the first time in eight years, elevating the value of the WTI and the Brent Crude oil. The deal is to cut oil production by 1.2M barrels a day to 32.5M barrels a day, starting from January, thus we would expect further rises to the price after the agreement

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Thursday, 01 December 2016 08:45

WTI Crude Oil Soars Above $50

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Published in Commodites & Metals

OPEC ministers finally announced a deal in Vienna yesterday to cut daily oil production sending oil prices sharply higher as the price jumped more than 10% on an intraday basis. The West Texas Intermediate (WTI) surged above our suggested entry level in our yesterday’s analysis and is on the way for hitting our target at $52.25 resistance level while it printed a one-month new high at $50.60

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Wednesday, 30 November 2016 09:57

WTI Slipped Below Our Suggested Level!

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Published in Commodites & Metals
Tuesday, 29 November 2016 09:11

WTI Crude Oil the Day Before OPEC Meeting

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Published in Commodites & Metals
Monday, 28 November 2016 09:26

Will Gold Meet Again the $1,200?

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Published in Commodites & Metals
Friday, 25 November 2016 09:15

Gold Hit Fresh Low and Profit Booked!

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Published in Commodites & Metals

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