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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, 30 January 2017 09:40

WTI is Moving Sideways for 7 Weeks

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Published in Commodites & Metals

The West Texas Intermediate (WTI) is developing within an ascending move since April 2016 however, over the last seven weeks, is consolidating within a trading range with upper boundary the $55.25 resistance level and lower boundary the $51.47 support barrier.

Currently, the price is testing the 50-daily SMA while it is trading above it since the end of November. For the long-term traders, as it stands, if the bulls are strong enough to push the oil further up, we would expect an extension towards the $55.70 barrier, a level tested on January 3rd and is the 18-month high. A failure to retest the latter level should prompt a move lower towards the $51.47 support handle, where a battle is expected by both market forces. For the short-term traders, now, we expect a further upside movement until the $54.30 resistance level while the 50-weekly SMA crossed the 100-SMA to the upside which indicates a bullish signal. Additionally, on the daily chart, technical indicators are flattening near its mid-levels with some weak momentum.

WTICrudeDaily300117.png

Friday, 27 January 2017 09:01

Brent is Consolidating in Sideways Channel

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Published in Commodites & Metals

The Brent Crude Oil is establishing within an ascending move since April and it surged almost 40%. The oil price tried to test the rising trend line several times while over the last two months is developing well above it within a sideways channel with upper boundary the $57.60 resistance level and lower boundary the $53.80 support barrier which coincides with the 50-daily SMA.

Currently, the price is moving towards the $57.60 price level or moreover until the previous fresh high at $58.50 resistance barrier. On the other hand, a break below the lower band and the 23.6% Fibonacci retracement level (April 2016 low – January 2017 high) of the last big move will slip the price to 100-daily SMA. The MACD oscillator is moving slightly higher as it is in the process for a bullish crossover its trigger line while the RSI indicator is sloping upwards.

BrentCrudeDaily270117.png

The silver is traded near the key zone defined by the horizontal resistance around $17.320 and the downtrend line connecting the highs from September 22nd 2016, November 09th 2016 and January 23rd 2017. Downtrend tendency is still valid and during the next few days, we expect the price to rebound from $17.320 level and decline further with initial target the

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Monday, 23 January 2017 09:49

Gold Met the JFD Pivot Point at $1,220

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Published in Commodites & Metals

The XAU/USD pair printed the fourth positive week in a row as it had an aggressive run to the upside following the bounce off the $1,122 support barrier. Moreover, the precious metal surged more than 5.4% so far this month and challenged a fresh two-month high at $1,220.

On the daily chart, the yellow metal met the 100-SMA which overlaps with the second resistance level of the monthly

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Thursday, 19 January 2017 08:42

WTI is Falling Towards the $51.47 Level

Written by
Published in Commodites & Metals

WTI crude oil dropped on Wednesday more than 2.5% following the rebound on the $54.30 resistance level. The aggressive sell-off will move the oil towards the $51.47 support barrier but it needs to go through the 50-daily SMA which behaves as a good support. Momentum has turned negative as the MACD indicator is headed lower and is holding slightly above the zero line at the moment. In the next

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Monday, 16 January 2017 10:15

Brent is Approaching the JFD Pivot Point

Written by
Published in Commodites & Metals

The Brent Crude Oil is establishing within an ascending move since April as it surged almost 40%. The oil price tried to test the rising trend line several times while now is trading well above it. The price hit a fresh high at $58.50 while it rebounded on it and now is trading lower near $55.70.

The crude oil is moving towards the $53.80 support barrier which overlaps with the first

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Friday, 13 January 2017 08:23

WTI Crude Oil Target Locked at $52.65

Written by
Published in Commodites & Metals
Thursday, 12 January 2017 08:10

Gold Surged and Target Locked Below $1,200

Written by
Published in Commodites & Metals
Wednesday, 11 January 2017 13:23

WTI Crude Oil Develops Flag Formation

Written by
Published in Commodites & Metals
Monday, 09 January 2017 09:26

WTI Crude Oil Hit a Fresh 17-Month High

Written by
Published in Commodites & Metals

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