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Commodity Trading Technical Analysis: Analysis of Oil, Silver, 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.
Supplied and sponsored by PipTrade.
Today’s Technical Analysis:
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Commodities Analysis - 21 May 2012
 Gold Technical Analysis
Gold closed lower on Friday and the low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are turning neutral-to-bullish signalling a low might be in or is near. Closes above the 20 day moving average cross are needed to confirm that a short-term low has been posted. If it extends the decline off February's high the 38% retracement level of the 2008-2011rally crossing is the next downside target.
 Silver Technical Analysis
Silver closed higher on Friday and the high-range close set the stage for a steady-to-higher opening on Monday. Stochastics and the RSI are turning neutral-to-bullish hinting that a low might be in or is near. Closes above the 20 day moving average crossing are needed to confirm that a low has been posted. If it renews the decline off February's high, December's low crossing is the next downside target.
 Crude Oil Technical Analysis
Crude oil closed lower on Friday extending this month's decline. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the 62% retracement level of the 2011-2012rally crossing is the next downside target. Closes above the 20 day moving average crossing are needed to confirm that a low has been posted.
 Natural Gas Technical Analysis
Natural gas closed higher on Friday as it extended the rally off April's low. The high-range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off last week's low, February's high crossing is the next upside target. Closes below the 20 day moving average crossing would signal that a short-term top has been posted.
 Coffee Technical Analysis
The coffee futures market closed lower on Friday and the low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it extends the decline off January's high, weekly support crossing is the next downside target.
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.
'Commodity Trading Technical Analysis: Analysis of Oil, Silver, Gold' edited by PipTrade, updated 21-May-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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