Commodities Spread Trading Analysis: Analysis for Gold, Coffee, 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 - 15 September 2011
 Gold Technical Analysis
Gold closed lower on Wednesday as it extends the decline off last Tuesday's high. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. Closes below last Wednesday's low crossing are needed to confirm that a short-term top has been posted. If it renews this year's rally into uncharted territory, upside target are hard to project.
 Silver Technical Analysis
Silver closed lower on Wednesday and testing the July-August uptrend line crossing. The low-range close set the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. Multiple closes below the July-August uptrend line crossing would confirm that a trend change has taken place. If it renews the rally off June's low, the 75% retracement level of the April-May-decline crossing is the next upside target.
 Crude Oil Technical Analysis
Crude Oil posted an inside day with a lower close on Wednesday as it consolidated some of the rebound off Monday's low. The mid-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are neutral signalling that sideways trading is possible near-term. Closes below Monday's low crossing would confirm an end to the corrective rally off August's low. Closes above the May-July downtrend line crossing would confirm an end to this summer's decline.
 Natural Gas Technical Analysis
Natural Gas closed higher due to short covering on Wednesday while extending August's trading range. The high-range close sets the stage for a steady-to-higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral-to-bullish signalling that sideways-to-higher prices are 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 Wednesday as it extends this month's decline. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are bearish signalling that additional weakness is possible. If it extends this month's decline, the 50% retracement level of August's rally crossing is the next downside target.
Further Commodities Market Commentary and Data
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.
The contents of this report are for information purposes only.
It is not intended as a recommendation to trade.
Neither CleanFinancial.com nor PipTrade accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
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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.
Article approved/supplied by PipTrade which is a trading name Henyep Capital Markets (UK) Limited which is authorised and regulated by the Financial Services Authority. Register No: 186171.
'Commodities Spread Trading Analysis: Analysis for Gold, Coffee, Gas' edited by PipTrade, updated 15-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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