Commodity Spread Betting Market Analysis: Technical Review for Crude Oil, Gold, Silver
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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 - 27 March 2012
 Gold Technical Analysis
Gold closed higher on Monday and the high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI have turned bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off last Thursday's low, the reaction high crossing is the next upside target. If it renews the decline off February's high, the 75% retracement level of the December-February rally crossing is the next downside target.
 Silver Technical Analysis
Silver closed higher due to short covering on Monday and the high-range close set the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20 day moving average crossing would confirm that a low has been posted. If it renews this month's decline, the 62% retracement level of the December-February rally crossing is the next downside target.
 Crude Oil Technical Analysis
Crude oil closed higher on Monday while extending the trading range of the past five weeks. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews this winter's rally, the 2011 high crossing is the next upside target. Closes below the reaction low crossing would confirm a downside breakout of a five week old trading range.
 Natural Gas Technical Analysis
Natural gas closed lower on Monday while extending the trading range of the past three weeks. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are turning neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it renews the multiyear 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
The coffee futures market closed higher due to short covering on Monday and the mid-range close sets the stage for a steady 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 January's high, weekly support 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.
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.
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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 Betting Market Analysis: Technical Review for Crude Oil, Gold, Silver' edited by PipTrade, updated 27-Mar-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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