Daily Commodities Financial Spread Betting Analysis Covering Natural Gas, Gold, Crude Oil
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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 - 16 November 2011
 Gold Technical Analysis
Gold 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 turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends the rally off September's low, the 75% retracement level of the 2008-2011-rally crossing is the next upside target.
 Silver Technical Analysis
Silver closed higher on Tuesday as it consolidates above the September-October uptrend line. The high-range close set the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are turning bearish signalling that a short-term top might be in or is near. Closes below the reaction low crossing would confirm that a short-term top has been posted. If it extends the rally off September's low, the 62% retracement level of the August-September decline crossing is the next upside target.
 Crude Oil Technical Analysis
Crude Oil closed higher on Tuesday as it extends the rally off October's low. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, the 62% retracement level of the May-October decline crossing is the next upside target. Closes below the 20-day moving average are needed to confirm that a short-term top has been posted.
 Natural Gas Technical Analysis
Natural Gas closed lower on Tuesday as it extends this year's decline. The low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain 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 20-day moving average crossing are needed to confirm that a short-term low has been posted.
 Coffee Technical Analysis
Coffee 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 signalling that sideways-to-higher prices are possible. Today's close above the reaction high crossing confirms that a short-term low has been posted. If it renews the decline off October's high, October's 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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'Daily Commodities Financial Spread Betting Analysis Covering Natural Gas, Gold, Crude Oil' edited by PipTrade, updated 16-Nov-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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