Archive for the ‘Commodity Tips’ Category

GOLD
Gold prices are facing resistance almost in the same as the January highs of 1,113 whereas a better than expected Chinese trade data gave a support near the 10-day Moving Average at 1,085. Gold prices climbed higher due to the US stocks moving lower and the investors running towards the yellow metal to take cover. MACD(Moving Average Convergence Divergence) indicator is suggesting positive momentum. Trading Signal Trial
SILVER
The Silver markets on Wednesday climbed up but were still within the same range which they have not left for some time. We have a resistance at $14.60 level, but with people rushing towards gold suddenly has brought massive buying buying pressure in gold. Hence, silver too might get some taste. we have hopes that the market might garner some short term gains in the immediate future. Any pullback from this level, might see a support at the $13.80 level.
Crude Oil
Crude Oil prices remained stationary and consolidated in the same range, despite of decline in inventories if heating oil and gasoline. We have a resistance in the vicinity of 10-day Moving Average at 33.86 and a support near the January low at 29.93. The Relative Strength Index(RSI) showed an oversold level. In any case, if we fall any more; the downward move would only gain speed whereas any upward rallies should be exploited.
GBPUSD
The GBP/USD pair took a dive on Wednesday under the negative market pressure. The pair somehow managed to form a hammer and gives some hope of a residual resilience left. Any type of rally initiating in this area has the potential to be exploited as a short position. Even a breach below the lows from the past few days would serve the same purpose. Long positions at the moment are not comfortable to enter at the moment.
EURUSD
The EUR/USD after having found a jumping base at 1.08 level had a roller coast ride on Wednesday moving to and fro for the entire duration. The majority negative sentiment that is prevalent at the moment is dense enough to keep us on the sidelines for the moment. For the time being, best move is to exploit short positions on short term rallies.
AUDUSD
The AUD/USD kept fluctuating around the 0.70 level which led to the pair slipping on Wednesday. The present scenario signals that it might go even lower. An up trend line was noticed to have been breached which can be considered to be a shift in the momentum and the rallies are also observed to be under selling pressure. Our expectations are around 0.65 level being reached given sufficient time.
USDJPY
The USD/JPY saw massive resistance at 118.50 level and dropped on Wednesday. The present scenario also suggest that the drop might continue. The main point of this pair is that ii is very sensitive to risk aversion and hence would see a large majority returning to sell US dollars.Long positions are only to be entered in case the 119 level is breached.

GOLD
Gold markets, once again to check the depths breaking below the $1090 level on Tuesday. We have a support at the $1080 level, which might be tested if it breaks the current level. Current scenario shows the US dollar to be relatively stronger than precious metals. Short positions would be our choice once we breach the$1080 level and a likely target might be $1060 level. Long positions are not to be entered without confirmation of sorts in the form of a supportive candle. Live Trial Signals
SILVER
Silver markets dipped again on Tuesday, breaching the $13.80 level.Due to a support below, we are sceptical there might a break in this fall in the near future. At present the comfortable move to take would be a short position. There happens to be resistance extending to the $14.00 level and we believe any attempt to rally might turn into consolidation. 
Crude Oil 
Crude Oil went on quite a ride on Tuesday, making a low of $29.93 per barrel which happens to be a two year low and later came back to $30.57 per barrel. Expectations are that the prices might recover to some extent in light of larger than expected draw as stated by the American Petroleum Institute. We see a resistance near the 10-day Moving Average at 34.60 level and the MACD(Moving Average Convergence Divergence) is signaling a negative momentum.
USDCAD is having potential to move upto the level of 1.5100 but the next trigger would be CRUDE OIL Prices (below $30, WTI/NYMEX)
Important FOREX Counters for 2016
GBPUSD
The GBP/USD pair dipped below on Tuesday, touching the depths around 1.45 level. At the moment, short positions are the ones that are more comfortable to enter in.Our suggestion would be to short any rally that shows signs of exhaustion below the 1.45 level. Due to the new low, it seems the current down trend might continue for the moment. Relatively it seems it US dollar will continue to strengthen.
EURUSD
The EUR/USD pair seemed to be in a hurry to reach the 1.08 level as it slipped on Tuesday. The present picture suggests it might check the 1.07 level which has a history of being quite a turbulent area.it seems the pair is going to attract more buyers in the immediate future, however the 1.08 level might have more supportive characteristics than being assumed.The present outlook does suggest the overall bearishness might prevail for some time.
AUDUSD
The AUD/USD pair went for a roller coast ride on Tuesday as it continued to fluctuate in the 0.70 level. The overwhelming fears of the gold markets falling and the softness in the Australian dollars is what has clouded this pair. Our interest in the short positions is due to a recent trend line breakout. Long positions at the moment are not comfortable to enter in.
USDJPY
The USD/JPY made an attempt to rally on Tuesday, however the sellers returned and formed a star like candle. This forces us to believe that the pair will continue to fall and we still have a chance of sellers returning after a short term rally. We might enter into long positions but only when we breach above the 119 level, which doesn’t look like it will happen in nearby future.

GOLD
Gold prices were affected negatively with the Fed’s LMCI (Labor Market Conditions Index)rising to 2.9 points in December.Gold markets had an inside day with the high being lower than prior days high and Low being higher than previous days low which is a signal of prevalent indecisiveness in the market. We have a support in the vicinity of the 10-day Moving Average at 1,080 and a Resistance at 1113 level.The MACD(Moving Average Convergence Divergence) is giving a positive Momentum. 3 Days Trial Signals
SILVER
Silver markets spent the Monday session in a volatile mood, mainly due to the associated effects of the $14 level. At this point, there is a possibility that we can rally from here. It appears we have sufficient selling pressure to prevent the market from falling.Capitalizing on that, we are currently looking to take advantage of signs of exhaustion in short term rallies. Consequently we are short term sellers.
Crude Oil
Crude Oil is currently diving to the depth reaching lows of $30.88 i.e.nearly 7% down.At present, it seems that the down trend that occurred till now might continue in the short term. With the crude oil inventories at 80-year high; demand seems to be taking the beating. The MACD(Moving Average Convergence Divergence) indicator is giving the momentum to be negative;hence signaling short positions.
GBPUSD
The GBP/USD made an attempt to rally during the Monday session; however, it turned back and formed a shooting star instead. The shooting star candle happens to be located immediately above the 1.45 level,hence we are refraining from short position at the moment. We will see a spurt in selling as we breach below the 1.45 level and that is what is keeping us on our toes. On the other hand, any move upwards and we would like to have a confirmation signal before we make any decision .
EURUSD
The EUR/USD pair had a hard time on Monday, falling initially on Monday and later taking a U-turn to rally at the time of market close. At present, it seems that it is going to be volatile in short term with majority movement being sideways. The present level of volatility in this market is not to be taken chance with and hence we are currently sitting on the sidelines.
AUDUSD
The AUD/USD on Monday formed a shooting star after an attempt to rally. The negativity of the shooting star is making us feel that the market might breakdown and that too significantly. At the moment, we are in the position to sell short term rallies due to the minor support that we see below. In the present market, long positions are not to be touched.
USDJPY
The USD/JPY on Monday closed with a shooting star after a failed attempt to rally. The move was a reflection to some degree of US stock markets which the pair is known to follow.the initial rally that we referred earlier was lost due to the sellers that stepped in later and took the market lower. Shooting star that we saw is a signal that the market is going to breakdown and if that happens, we might revisit the116 level.

COMEX and FOREX Technical Review

Posted: September 22, 2015 in Commodity Tips, Forex

GOLD
Gold markets rose initially during the course of the session on Monday, but found the $1140 levels to be bit too resistive, and turned things around from there to form a fairly bearish candle by the end of the session. With this in mind, we expect the market to move around $1130 levels on Tuesday also. We would be sellers on every rally that show signs of weakness. We have no Interest in buying this market until it breaks the $1160 levels, as there is too much resistance all the way upto $1160 levels.
SILVER
Silver Markets pulled back slightly at the opening of the session on Monday, and then turned back around to form a bit of a hammer. With this being the case, it looks as if the markets will try and move towards the $15.50 levels which has been quiet resistive in the past. We have no real interest in selling, simply because this market seems to be rather resilient and has started showing signs of strength following the formation of the hammer. However, we have no interest whatsoever in selling this market as it has been so strong recently and $15 levels has been quiet tough for this market to break.
CRUDE
The light sweet crude market rose during the course of the session on Monday, proving the importance of $44 levels as a support. This market has now been consolidating between $44 and $48 levels for quiet some time now. We now believe that short-term pullbacks will provide good buying opportunities, and ultimately the market will take a breakout above $48 levels. In the meantime we expect this market to be a lot volatile. With this being the case, we have no interest in selling, as we understand the fact that, any pullback will simply be a buying opportunity in this market.
EUR/USD
EURUSD fell during the day on Friday. The pair is in the down trend and we do not see any recent support down there. Once we get below 1.1140 level we can land up somewhere around 1.1015 level. With the next daily candle we may get to see some some buyers probably. For longer term, below 1.11 level is a clear bearish market.
GBP/USD
GBPUSD fell during the day. We believe that the market is trying to reach below 1.53 level. With the next daily candle we are again sellers in this market. Probably, if we break below 1.53 we can head up to 1.52 level.
AUD/USD
AUDUSD fell during the course of the day on Monday. The market may continue to drift down to 0.70 level with the next daily candle. We do not see buyers to enter into this market so we are selling this pair. On the daily chart, we see a clear rounding top and so we are definitely sellers and expect to reach 0.68 level.
NZD/USD
NZDUSD is consolidating within a range between 0.6330 to 0.6300. We believe 0.6295 we are surely sellers as the pair in in the longer term down trend. With the next daily candle we are again sellers in this market and once we get below 0.6200 level we may head down to 0.60 level.

GOLD
Gold markets initially fell during the course of the day on Monday, but found enough support just above the 1200 level to bounce and form a relatively supportive candle. signalsWe believe that Gold prices are stuck between 1200 and 1215, so at this point in time we are simply waiting for it to move out of this range. If gold breaks 1215 level, we feel that, we would be buyers and aiming for the 1230 handle.
SILVER
Silver markets as you can see did very little during the session on Monday, as we continue to respect the $17 level for its supportive qualities. Because of this, we believe that buying short-term calls every time thie market gets close to the $17 level is probably the best way to play with this market right now. We would not be bothered with the futures market right now, and wait for the markets to break $17 level.
CRUDE
The light sweet crude market initially fell during the course of the day on Monday, testing the $59 level for support. And it was successful in founding it there and making a hammer to take enough bounce from those levels. This market seems to be in a bit of a crossroads. With that, we are a bit more comfortable buying on a break above the top of the hammer for the session on Monday, but quite frankly, we can’t deny the fact that it is going to be highly volatile. If we break the $58 level below though, things will get interesting, and we could find ourselves heading towards the $55 handle.

Gold
Gold market fell during the session on Wednesday, testing the $1200 level for support. With this, the market bounced enough to form a hammer and it appears that the market is trying to break above the $1220 level. However,until we break above the $1220 levelor below the $1180 level the market will continue to consolidate.
SILVER
The silver markets fell initially during the session on Wednesday, but found enough support at the $16.50 level to turn things back around and form a hammer. However, we see a significant amount of resistance near the $17 level so we are not sure about buying until this level. Because of this, we can say that the market would be extraordinarily volatile. With that, we are on the sidelines but recognize the area between $17 and $17.50 to be very important.
CRUDE
The light sweet crude market rose up rather drastically during the session on Wednesday as the US dollar got pummelled. With this, the market ended up breaking above the recent resistance, but remains below the $60 level. The market has to get above the $60 level in order to get very bullish of this market for any real length of time, so at this point time we are on the sidelines.

GOLD
Gold markets did very little during the course of the week, essentially forming a neutral candle. However, it looks like that the $1200 level is offering a bit of support. If it breaks the top range, we feel this market will probably go to the $1300 level given enough time. 3b2e5-140109084033-pay-less-2014-gold-620xbBut at the same time we broke down below the bottom of the range for the week. We believe that the market then could go down to $1150 level given enough time. Regardless, it should continue to be volatile.
FORECAST
Gold markets rose during the course of the session on Friday, breaking above the $1200 level. The market seems as if it could go high to the $1220 level, before reaching to a significant resistance. At the end of the day though, it appears that the market will more than likely grind sideways. We believe that there is a support at the $1180 level. Any breakout could make follow the market direction.
SILVER
The silver market fell during the course of the week, testing the $16 level at one point. However, we saw a little bit bounce from there, so we feel the market isn’t quite ready to completely break down. 20bc9-silver1We believe that market will continue to consolidate, with the $15 level below being massively supportive. We look at supportive candles in that area as a potential buying opportunity, just as we look at resistive candles near the $18 level as a selling opportunity. Overall, this could be a difficult market for longer-term traders to be involved in.
FORECAST
The silver market tried to rally during the course of the session on Friday, but found resistance at the $16.50 level. Ultimately, we ended up looking a support at the $16 level. If we can break below there, we could go as low as $15 level. On the other hand, if it breaks the top of the range for the session on Friday we could go as high as to the $17.50. We feel that this market is going to be very choppy.
CRUDE OIL
The light sweet crude market rose during most of the week, but found a bit of resistance at the $54 level. With this, we ended up forming a shooting star which is a very bearish sign. It seems that the consolidation range will continue, and there is a significant resistance near the $55 level. With this, the market looks as if it is going to continue to go back and forth between the $55 and $45 level on the downside.09284-crude-oil-futures-up-on-firm-overseas-cues We believe that this market will be difficult to trade, but should continue to offer back and forth trading opportunities on shorter-term charts.
FORECAST
The light sweet crude market went higher during the session on Friday after initially falling to the $50 level. With this, it appears that the market is going to continue to consolidate between $50 level to the bottom, and $54 level to the top. We think that the light sweet crude market will continue to suffer at the hands of the strengthening US dollar, and with that we feel that it’s only a matter of time before the market breaks back down. If we break below the $50 level, we feel the market should then head to the $45 level. We believe that rallies will continue to offer plenty of selling opportunities.