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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
Wednesday, 30 November 2016 09:57

WTI Slipped Below Our Suggested Level!

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Published in Commodites & Metals

The West Texas Intermediate (WTI) had a downward move over yesterday’s session meeting the $45.40 support level which overlaps with the 100-weekly SMA and hit our suggested target (see technical analysis here: http://bit.ly/2gercLa). Also, the oil plunged more than 3.5% and currently is trading near the $46.15 price level. The price fell below the 100-daily SMA and 200-daily SMA as the 50-SMA seems to be a critical obstacle for the bears. A break of the $45.40 obstacle will move towards the ascending trend line and the $43.60 support barrier.

On the other hand, if the oil surpasses above its moving averages will meet the $49.30 resistance level or the key resistance level at $52.25. Technical indicators seem to endorse with the downward thought as both are following a bearish path. the MACD oscillator lies near its mid-level with some weak momentum while the RSI indicator holds below the 50 level.

WTICrudeDaily301116m.png

Tuesday, 29 November 2016 09:11

WTI Crude Oil the Day Before OPEC Meeting

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Published in Commodites & Metals

The last five years, the oil output increased massively and since 2013, the production of oil surpasses the consumption and this oversupply is forecasted to continue at least until the end of the next year, if actions not taken, according to the U.S. Energy Information Administration. While most investors expect OPEC to reach a deal to cut oil supply in tomorrow's meeting, Saudi Arabia said that OPEC would not need to cut output, because increasing demand would even out the supply glut in 2017.

OilProduction28112016 2

The West Texas Intermediate (WTI) had a positive day during yesterday’s session after five consecutive red candles. The oil rebounded on the $45.40 support level which overlaps with the 100-weekly SMA and surpassed above the 100 and 200 daily SMAs while the price hit the 50-daily SMA. Also, the crude oil is establishing within a rising sloping channel over the last four months and currently the price is moving towards back to the $45.40 support level. Technical indicators hold in a neutral area with no clear directional strength. The RSI indicator is flattening above the 50 level whilst the MACD oscillator is following the positive territory with some weak momentum.

WTICrudeDaily291116

Monday, 28 November 2016 09:26

Will Gold Meet Again the $1,200?

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Published in Commodites & Metals

The yellow metal after the roller coaster to the downside is printing the second green day in a row and rose more than 0.8%. The XAU/USD pair had a significant pullback on the $1,171 support level and now is moving slightly below the $1,200 key psychological barrier.

Technically, if the price surge above the latter level it will open the way for the $1,221 resistance barrier but the

...
Friday, 25 November 2016 09:15

Gold Hit Fresh Low and Profit Booked!

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Published in Commodites & Metals

The yellow metal edged sharply lower over the last three weeks and during today’s sessions recorded a new ten-month low and reached the $1,171 support level. The XAU/USD pair plummeted more than 7% this month following the bounce off the $1,338 resistance level. On a previous analysis, we suggested an entry level below the $1,221 barrier until the $1,200 psychological obstacle where the price

...
Wednesday, 23 November 2016 09:06

WTI Reached the Suggested Target

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Published in Commodites & Metals

The West Texas Intermediate (WTI) rose and surpassed our suggested target at $48.45 following the strong bounce off the $45.20 support level (see technical analysis here: http://bit.ly/2gk6g3t). Over Tuesday, the oil plunged within the $47.15 - $47.60 support zone, however, now is moving slightly above the 50-daily SMA and the 200-SMA on the 4-hour chart

...
Tuesday, 22 November 2016 08:32

Gold Plunged More than 5% the Last 2 Weeks

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Published in Commodites & Metals

The precious metal plunged more than 5% over the last two weeks and recorded the second consecutive negative week after the strong rebound on the $1,338 resistance level. The XAU/USD pair printed a fresh 5-month low at $1,203 and overlapped with the 100-weekly SMA. The technical structure suggests a correction to the upside since the pair failed to slip below the latter obstacle. On the other

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Monday, 21 November 2016 10:02

Will WTI Test the 50% Fibonacci Level?

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Published in Commodites & Metals
Wednesday, 16 November 2016 09:06

WTI Surged and Hit Our Target at $46.40!

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Published in Commodites & Metals
Tuesday, 15 November 2016 12:56

WTI Target Locked at $45.20

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Published in Commodites & Metals
Monday, 14 November 2016 09:30

Gold Plummeted More Than 6% Last Week

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Published in Commodites & Metals

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