Commodities Financial Spread Betting Market Analysis: Analysis of Silver, Crude 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 - 3 January 2012
Gold Technical Analysis
Gold closed unchanged on Monday due to market holiday. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the decline off November's high, July's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Silver Technical Analysis
Silver closed unchanged on Monday due to market holiday. The low-range close set the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the decline off October's high, the 75% retracement level of the 2010-2011 rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted.
Crude Oil Technical Analysis
Crude oil closed unchanged on Monday due to market holiday. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off December's low, November's high crossing is the next upside target. Closes below the 10day moving average crossing would signal that a short-term top has been posted.
Natural Gas Technical Analysis
Natural gas closed unchanged on Monday due to market holiday. Stochastics and the RSI remain neutral-to-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 20day moving average crossing are needed to confirm that a short-term low has been posted.
Coffee Technical Analysis
The coffee futures market closed unchanged on Monday due to market holiday. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain bullish hinting that a low might be in or is near. If it extends the rally off December's low, December's high crossing is the next upside target. If it renews this year's decline, the 62% retracement level of the 2009- 2010 rally 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.
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.
'Commodities Financial Spread Betting Market Analysis: Analysis of Silver, Crude Oil, Coffee' edited by PipTrade, updated 03-Jan-12
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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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