Commodity Spread Trading Analysis with Crude Oil, Coffee, 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 - 17 August 2011
 Gold Technical Analysis
Gold closed higher on Tuesday and is poised to extend this year's rally. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are neutral-to-bearish warning bulls that a pause in this year's rally or short-term correction is possible. If it extends this year's rally, upside targets will be hard to project now that October is trading into uncharted territory. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
 Silver Technical Analysis
Silver closed higher on Tuesday as it extends the trading range of the past seven days. The mid-range close set the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it renews the decline off this month's high, the reaction low crossing is the next downside target.
 Crude Oil Technical Analysis
Crude Oil closed lower due to profit taking on Tuesday as it consolidated some of the rally off last week's low but remains above the 10-day moving average crossing. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a low has been posted.
 Natural Gas Technical Analysis
Natural Gas closed lower on Tuesday as it consolidated some of the rally off last week's low. The low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI are turning neutral hinting that sideways-to-lower prices are possible near-term. If it renews 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 Tuesday and above the reaction high crossing confirming that a low has been posted. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it extends this week's rally, the reaction 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 with Crude Oil, Coffee, Natural Gas' edited by PipTrade, updated 17-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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