Commodity Spread Trading Analysis: Analysis for Gold, Natural Gas, Silver
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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 - 26 August 2011
 Gold Technical Analysis
Gold closed higher due to short covering on Thursday but not before spiking below support marked by the 20-day moving average crossing. The high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
 Silver Technical Analysis
Silver closed higher due to short covering on Thursday as it consolidates some of this week's decline. The high-range close set the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are turning bearish signalling that a short-term top might be in or is near. Closes below the July-August uptrend line crossing would confirm a top and 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 on Thursday as it extends some of this week's rally. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews this summer's decline, the 75% retracement level of the 2009-2011-rally crossing is the next downside target.
 Natural Gas Technical Analysis
Natural Gas closed higher due to short covering on Thursday as it consolidates some of the decline off June's high. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are turning neutral-to-bullish hinting that a short-term low might be in or is near. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it extends the decline off July's high, the October 2010 low on the monthly continuation chart crossing is the next downside target.
 Coffee Technical Analysis
Coffee closed higher on Thursday as it extends this month's rally. The low-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are overbought but remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's rally, June's high crossing is the next upside 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.
'Commodity Spread Trading Analysis: Analysis for Gold, Natural Gas, Silver' edited by PipTrade, updated 26-Aug-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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