Commodity Spread Betting Market Analysis: Analysis of Silver, 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 - 13 September 2011
 Gold Technical Analysis
Gold closed lower due to profit taking on Monday as it consolidates some of this year's rally. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are turning neutral-to-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 extends this year's rally into uncharted territory, upside target are hard to project.
 Silver Technical Analysis
Silver closed lower on Monday and below the July-August uptrend line crossing. The low-range close set the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are turning 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 closed higher due to short covering on Monday. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning neutral-to-bearish signalling that a short-term top might be in or is near. Closes below the reaction 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 lower on Monday as it extends August's trading range. The mid-range close sets the stage for a steady-to-higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it renews this summer's decline, monthly support crossing is the next downside target. If it renews the rally off August's low, the reaction high crossing is the next upside target.
 Coffee Technical Analysis
Coffee closed higher due to short covering on Monday but remains below the 20-day moving average crossing. The mid-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are turning bearish signalling that additional weakness is possible. If it extends last week's decline, the reaction low 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.
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'Commodity Spread Betting Market Analysis: Analysis of Silver, Gold, Natural Gas' edited by PipTrade, updated 13-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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