Commodities Trading Technical Analysis for Gold, Crude Oil, Coffee
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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 - 28 December 2011
 Gold Technical Analysis
Gold closed lower on Tuesday and the low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it renews this month's decline, September's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
 Silver Technical Analysis
Silver closed lower on Tuesday and the low-range close set the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the decline off October's high, September's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted.
 Crude Oil Technical Analysis
Crude oil closed higher on Tuesday as it extended the rally off last week's low. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends last week's rally, the reaction high crossing is the next upside target. If it renews the decline off November's high, the 50% retracement level of the October-November rally crossing is the next downside target.
 Natural Gas Technical Analysis
Natural gas closed slightly higher due to short covering on Tuesday as it extended the trading range of the past seven days. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends this year's decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted.
 Coffee Technical Analysis
The coffee futures market closed higher on Tuesday and the high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a low has been posted. If it renews this year's decline, the 62% retracement level of the 2009-2011 rally crossing is the next downside target.
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.
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 Trading Technical Analysis for Gold, Crude Oil, Coffee' edited by PipTrade, updated 28-Dec-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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