Commodities Financial Spread Betting Technical Analysis Looking at Oil, Gold, Natural Gas
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Daily Commodities Technical Analysis report discussing Support and Resistance Levels and Indicators such as Stochastics and the RSI for major commodities markets such as Crude Oil, Gold, Silver, Natural Gas and Coffee.
Supplied and sponsored by PipTrade.
Today’s Technical Analysis:
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Commodities Analysis - 16 September 2011
 Gold Technical Analysis
Gold closed sharply lower on Thursday and below last Wednesday's low crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI have turned bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. If it renews this year's rally into uncharted territory, upside target are hard to project.
 Silver Technical Analysis
Silver closed lower on Thursday and below the July-August uptrend line crossing confirming that the rally off July's low has come to an end. The low-range close set the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. If it extends today's decline, the reaction low crossing is the next downside target.
 Crude Oil Technical Analysis
Crude Oil closed higher on Thursday and remains poised to extend the rally off August's low. The high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are overbought, diverging but are neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. Closes above the May-July downtrend line crossing would confirm an end to this summer's decline. Closes below Monday's low crossing would confirm an end to the corrective rally off August's low.
 Natural Gas Technical Analysis
Natural Gas closed lower on Thursday while extending August's trading range. The low-range close sets the stage for a steady-to-lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral signalling that sideways trading is possible near-term. If it renews the rally off August's low, the reaction high crossing is the next upside target. If it renews this summer's decline, monthly support crossing is the next downside target.
 Coffee Technical Analysis
Coffee closed lower on Thursday as it extends this month's decline. The low-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are bearish signaling that additional weakness is possible. If it extends this month's decline, the 62% retracement level of August's rally crossing is the next downside target. Closes above the 10-day moving average crossing would temper the bearish outlook.
Further Commodities Market Commentary and Data
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The contents of this report are for information purposes only.
It is not intended as a recommendation to trade.
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Spread Trading and CFDs carry a high level of risk and you may lose more than your initial investment. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
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'Commodities Financial Spread Betting Technical Analysis Looking at Oil, Gold, Natural Gas' edited by PipTrade, updated 16-Sep-11
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Commodities Analysis Index - an Index of Daily Commodities Analysis articles covering Trends, Supports and Resistance Levels for some of the major commodities markets including Crude Oil, Natural Gas, Gold, Silver and Coffee.
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