Commodities Trading Market Analysis: Analysis of Crude Oil, Natural Gas, Gold
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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.
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Today’s Technical Analysis:
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Commodities Analysis - 10 January 2012
 Gold Technical Analysis
Gold closed lower due to profit taking on Monday as it consolidated some of the rally off December's low. 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. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off November's high, July's low crossing is the next downside target.
 Silver Technical Analysis
Silver closed higher on Monday and the mid-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off October's high, the 75% retracement level of the 2010-2011 rally crossing is the next downside target.
 Crude Oil Technical Analysis
Crude oil closed lower on Monday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are remaining neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off December's low, the 75% retracement level of 2011 decline crossing is the next upside target. Closes below the 20day moving average crossing would temper the near-term friendly outlook.
 Natural Gas Technical Analysis
Natural gas closed lower overnight as it consolidates some of Thursday's decline. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If February extends this year's decline, monthly support crossing is the next downside target.
 Coffee Technical Analysis
The coffee futures market closed lower on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI have turned bearish signalling that sideways to lower prices are possible near-term. If it renews this year's decline, the 62% retracement level of the 2009-2010 rally crossing is the next downside target. If it renews the rally off December's low, December's high crossing is the next upside target.
Further Commodities Market Commentary and Data
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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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'Commodities Trading Market Analysis: Analysis of Crude Oil, Natural Gas, Gold' edited by PipTrade, updated 10-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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