Daily Commodity Spread Betting Analysis: Analysis of Natural Gas, 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 - 22 September 2011
 Gold Technical Analysis
Gold closed lower on Wednesday as it consolidates below the 20-day moving average. The high-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. If it renews this year's rally into uncharted territory, upside target are hard to project.
 Silver Technical Analysis
Silver closed higher on Wednesday and the high-range close set the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the July-August uptrend line crossing would temper the near-term bearish outlook.
 Crude Oil Technical Analysis
Crude Oil closed lower on Wednesday as it consolidates below August's uptrend line crossing. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. Closes below last Monday's low crossing would confirm the end of the corrective rally off August's low and would open the door for a larger-degree decline into the end of September.
 Natural Gas Technical Analysis
Natural Gas closed lower on Wednesday as it extends the decline off June's high. The low-range close sets the stage for a steady-to-lower opening when Thursday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends this summer's decline, monthly support crossing is the next downside target. Closes above the 20-day moving average crossing would signal that a short-term low has been posted.
 Coffee Technical Analysis
Coffee closed lower on Wednesday as it extends this month's decline. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain neutral-to-bearish signalling that additional weakness is possible. If it extends this month's decline, the 75% retracement level of August's rally crossing is the next downside target.
Further Commodities Market Commentary and Data
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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 Commodity Spread Betting Analysis: Analysis of Natural Gas, Oil, Coffee' edited by PipTrade, updated 22-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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