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Christian KÄMMERERHead of German Speaking Markets
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Research is to see what everybody else has seen,
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Barbara NICODEMOUMarket Analyst
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Research is creating new knowledge.
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Melina DELTASJunior Market Analyst
Monday, 13 June 2016 09:50

XAU/USD is About to Exit its Range

Written by
Published in Commodites & Metals

The precious metal surged for a fourth consecutive day after hitting its highest in nearly four weeks on early- Friday, supported by a softer dollar and ahead of key central bank meetings (Fed, BoE and BoJ) this week, as well as ahead of the EU referendum.

The yellow metal rose above the 50-SMA to $1,284 in early Monday trading, and hovers around the $1,280 price zone ahead of the NY opening, as risk aversion continues dominating the financial world. Overall, the XAU/USD is continuing to trade in a fairly tight range, with the psychological level at $1,300 capping any moves to the upside and $1,200 propping it up. The last rebound from the psychological level at $1,200 was very aggressive as the metal added more than $80 in a ten days’ time. In the meantime, the 4-hour chart shows that the price is well above a bullish 50-SMA that keeps covering the downside whilst the MACD oscillator holds within a positive territory. Furthermore, the momentum indicators head modestly higher above 100, adding to the bullish picture. In the 1-hour chart, the technical indicators head sharply higher above oversold readings, supporting some additional inclines towards the $1,300 - $1,304 zone. A break above there should open the way towards $1,325, which coincides with the 200-SMA on the weekly chart.

XAUUSDDaily130616

Wednesday, 08 June 2016 07:49

Gold and WTI Technical Outlook

Written by
Published in Commodites & Metals

Gold covered almost the half of its earlier losses
The precious metal reached a fresh two-week high as the possibility of an early U.S. interest rate hike appeared to dim following dovish comments by Fed chair Janet Yellen earlier this week. The yellow metal, which fell more than 7% in May, has risen about 3% so far this month on dampened expectations of an early rate hike. Following the strong rebound from the psychological level of $1,200, the metal surpassed easily the 50-SMA on the 4-hour chart, as well as the $1,240 barrier to turn the bias to bullish. The next level to watch will be the $1,255 level, which coincides with the 50-SMa on the daily chart and the 200-SMA on the 4-hour chart, which I think it will take 2-3 attempts to break above there. Beyond there, the $1,265 and the $1,283 levels will be the next obstacle for the bulls before reaching the psychological level at $1,300. All in all, we remain bullish on the precious metal.

WTI reached target at $51.00
WTI rose for a third day to its highest in about eight months on early Wednesday, helped by industry data showing a larger-than-expected drawdown in U.S. crude inventories, worries about attacks on Nigeria's oil industry and strong Chinese demand. U.S. commercial crude inventories fell by 3.6 million barrels last week. The WTI reached the suggested target (http://bit.ly/25LjRHJ) at $51.00 by early Wednesday after settling down to $50.80 at the moment writing. Now, the next level to watch will be the $54.00 region, however, it will need a lot of effort from the bulls to reach that region. Overall, technical readings favor the upside, as in the 4-hour chart, as well as in the daily chart, the 50-SMA has extended its rally above the 200-SMA. Furthermore, the RSI indicator keeps consolidating near 70 indicating further upside movements while the MACD keeps correcting into an overbought territory.

WTICrudeH4080616

 

Monday, 16 May 2016 08:16

Brent Crude Forecast

Published in Commodites & Metals

Brent Crude oil edged up for the fourth consecutive day as output falls in Nigeria and worries about political instability in Venezuela tightened the market. The UK crude oil gained more than 30% since February 2016 and is up more than 10% the last month, quite impressive numbers.

The catalyst for the latest move appears to have been the falling supplies from producers such as

...
Tagged under

At the beginning of this year, the Brent Crude oil rebounded on the record low levels has been since 2003, near $27.20 a barrel, and covered the half of the losses suffered since May 2015.

The Brent Crude Oil has been traded in an uptrend since January, creating higher highs and higher lows. The price is traded above the 200-SMA and the 50-SMA on the 4-hour chart and is currently

...
Friday, 29 April 2016 06:09

Huge Profits on GOLD!

Published in Commodites & Metals

Finally, the precious metal surged above the $1,271 and poised for its biggest weekly rise since January 31, as the greenback tumbled after the BoJ and the Federal Reserve stood pat on policy. For the week, the precious metal is up 3.5% and a day before the end of April is up 3.5%. It should be noted that the metal is up 20% since the start of 2016!

In the last three reports (...

Tagged under
Tuesday, 26 April 2016 07:22

XAU/USD bounces off lows towards $1,260

Written by
Published in Commodites & Metals

The yellow metal slipped from a five-week high following the ECB policy meeting the previous week and continue consolidating below the critical level at $1,260 ahead of some significant events coming from the U.S., including the Federal Reserve policy meeting on Wednesday.

The consolidation over the last few months, which previously looked like a descending triangle has now become a

...
Friday, 22 April 2016 06:58

XAU/USD consolidates within a triangle

Published in Commodites & Metals
Wednesday, 20 April 2016 07:29

XAU/USD in a Bullish Bias

Written by
Published in Commodites & Metals
Monday, 18 April 2016 10:13

Brent Crude Oil Profit Locked at $45.00

Written by
Published in Commodites & Metals
Monday, 11 April 2016 07:13

Gold fails to hold below $1,240

Published in Commodites & Metals

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