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12 Apr 2012 Commodity Spread Trading Market Analysis: Technical Review of Oil, Coffee, Natural Gas
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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 - 12 April 2012
Gold Technical Analysis
Gold closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. Closes above last Monday's high crossing are needed to confirm that a short-term low has been posted. If it extends 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 lower on Wednesday and the mid-range close set the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it renews the decline off February's high, the 62% retracement level of the December-February rally crossing is the next downside target. Multiple closes above last Tuesday's high crossing are needed to confirm that a low has been posted.
Crude Oil Technical Analysis
Crude oil closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the decline off March's high, the 38% retracement level of the October-March rally 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.
Natural Gas Technical Analysis
Natural gas closed lower on Wednesday and 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. If it extends 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 on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. If it renews the decline off January's high, weekly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted.
Further Commodities Market Commentary and Data
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.
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.
'12 Apr 2012 Commodity Spread Trading Market Analysis: Technical Review of Oil, Coffee, Natural Gas' edited by PipTrade, updated 12-Apr-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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Risk Warning: CFD trading and spread trading carry a high level of risk to your capital and you may lose more than your initial investment. CFD trading and spread trading may not be suitable for all investors. 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.
The contents on CleanFinancial.com are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.
Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.
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