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Christian KÄMMERERHead of German Speaking Markets
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Barbara NICODEMOUMarket Analyst
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Melina DELTASJunior Market Analyst

Items filtered by date: July 2016

Friday, 29 July 2016 07:39

Brent Plunged More Than 13% in July

The Brent Crude Oil plummeted 13.5% since the beginning of the month and now is on track to record the second straight negative weekly candle. Following the aggressive sell-off hit its lowest levels since May, falling towards to the $43.00 price level. The continuation of the downward move is possible since the momentum is strong for the price and for the technical indicators. Additionally, on the 4-hour chart, the price is moving well below of the three SMAs (50-SMA, 100-SMA, 200-SMA) and the next support level to watch is the $40.50. Technical indicators are falling in an oversold area endorsing our bearish thought.

BrentCrudeH4290716.png

Published in Commodites & Metals
Friday, 29 July 2016 07:37

XAU/USD Back to the 1310 Price Level?

The yellow metal fell more than 0.3% over the last two days after the rebound on the $1,346 strong resistance level. On yesterday’s period, the XAU/USD pair created a new two-week high at $1,346 price level but now is trading lower near the $1,333 price level. From a technical point of view, a downward move is in progress and the next strong support zone that price will meet is the $1.310 - $1,305 which overlaps with the 50-SMA on the daily chart. Furthermore, a penetration of the aforementioned area will open the doors for the $1,295 and the ascending trend line. On the same chart, the MACD oscillator is still in a positive territory but is approaching the oversold area. Also, the RSI indicator is sloping downwards but is moving above the 50 level.

XAUUSDDaily290716.png

Published in Commodites & Metals
Wednesday, 27 July 2016 07:28

WTI Hit its Lowest Since May

West Texas Intermediate (WTI), also known as Texas light sweet, hit its lowest levels since May, falling towards $42.59. The crude oil plunged more than 6% and is now recording the first positive candle after five consecutive negative sessions. A successful penetration of the $42.70 technical barrier and a downward move through the 50-weekly SMA will open the way for the $40.25 support level which overlaps with the 200-daily SMA. The MACD oscillator is falling into a negative territory with strong momentum whilst the RSI indicator is approaching the oversold area.

WTICrudeDaily270716.png

Published in Commodites & Metals

The precious metal plunged 1% the last three days and is recording the first positive candle after three negative candles in a row as investors remained cautious ahead of a Federal Reserve meeting that starts later in the day. After the creation of the two-year high this month, the XAU/USD pair plummeted to the $1,310 support level and now is trading near $1,317 price level.

The technical structure remains bearish, thus, the initial target will be at $1,295, where the 50-daily SMA is ready to provide some support to the price action. The yellow metal tries to make a partial recovery and probably the next level to watch is the ascending trend line on the daily chart. The MACD oscillator is falling and is approaching the zero level whilst the RSI indicator fell below the 50 level and is following a downward path.

XAUUSDDaily260716_2.png

Published in Commodites & Metals
Tuesday, 19 July 2016 06:41

Gold Is Following a Corrective Move

The precious metal is following a downside corrective move the last week and plunged below the $1,350 barrier as the demand for safe-haven assets waned with a coup attempt in Turkey failing to deter risk sentiments. XAU/USD fell more than 2% last week, its first weekly decline in seven weeks.

After the aggressive rally in the previous weeks up to the $1,375 level, now the yellow metal is recording the second negative weekly candle and is trading below the strong resistance level at $1,335. The technical structure remains bearish for the next sessions extending its decline to the significant support zone $1,295 - $1,305. A break through the support area will manage to look for further declines towards the ascending trend line at $1,275. The MACD oscillator is falling and is moving below its trigger line whilst the RSI indicator is moving near its mid-level and is sloping downwards supporting the bearish corrective picture.

XAUUSDDaily190716.png

Published in Commodites & Metals
Wednesday, 13 July 2016 09:36

Brent Crude Oil: End of Correction

The Brent Crude Oil is making a partial recovery of the aggressive rally that had yesterday reaching the $48.90 resistance level. The last four 4-hour sessions recorded negative candles and plunged more than 1%. Currently, is trading below the aforementioned obstacle and the three SMAs (50 - 100 - 200 SMAs). A recent downturn for the oil is signaling that the pair’s recent bullishness might be about to end as the long-term bearish trend resumes. The next technical levels to watch for possible targets is the support area $47.50-$47.40 and if the price will have a successful attempt below the referred zone will proceed at the $46.20 level. The MACD indicator has just entered the positive territory while the RSI oscillator is moving near 50 and is sloping downwards.

BrentCrudeH4130716.png

Published in Commodites & Metals
Tuesday, 12 July 2016 07:47

WTI Has More Room To Fall Below 44.80

The WTI crude oil fell more than 4% last week, started the week with a negative candle and is pushing to break the $44.90 barrier. After the one-year high at $52.00 price level, the oil continues its move to the downside recording fresh lows for the last two months.

Currently, the price is trading near the 100-SMA and if is stuck below it, we will expect a downward move to the significant support zone $42.80 - $43.50. On the other hand, an upward penetration of the resistance level $46.30 will expose to the next barrier at $48.30. Technical indicators seem to be in agreement with our bearish thought. The MACD indicator is falling in the negative area and the RSI oscillator is following a downward path, below 50.WTICrudeDaily120716.png

Published in Commodites & Metals

The precious metal rallied to its highest since 2014 on Wednesday as renewed fears over the impact of Britain's exit from the European Union pushed investors toward safe-havens. The yellow metal rose more than 4% the last week recording a sixth consecutive positive week. In our last few reports, (http://bit.ly/29vX2jC) we were suggesting long positions on the XAU/USD pair, targeting the level at $1,358. The metal surged above the suggested target during yesterday’s session and reached the $1,375 price level. If precious metal continues the aggressive rally, the next resistance level to watch will be the $1,390 barrier from the weekly chart. On the daily chart, technical indicators are in an overbought area with very strong momentum endorsing our bullish scenario.

XAUUSDDaily070716.png

Published in Commodites & Metals
Tuesday, 05 July 2016 07:52

Silver Added 44% Since January!

Silver050716

The silver advanced to a 2-year high and is now 44% up over the last six months. The XAG/USD pair rose to the $21.14 level following the aggressive rally from the $17.50 strong support level. From a technical point of view, the price rebounded from the highest price level which is reached yesterday and is now trading above the $19.50 barrier. A break below the latter level will open the way for the $18.30 support level. On the other hand, a retest of the $19.50 barrier is possible and then a continuation of the ascending move. Technical indicators are in an overbought area, whilst RSI is sloping downwards. The MACD oscillator is in a positive territory with strong momentum.

Silver0507162.png

Published in Commodites & Metals

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