Daily Commodities Trading Technical Analysis Covering 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 - 14 February 2012
 Gold Technical Analysis
Gold closed higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are bearish hinting that a short-term top might be in or is near. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted. If it renews the rally off December's low, the 62% retracement level of the September-December decline crossing is the next upside target.
 Silver Technical Analysis
Silver closed higher on Monday while extending the trading range of the past two weeks. The mid-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted. If it renews the rally off December's low, October's high crossing is the next upside target.
 Crude Oil Technical Analysis
Crude oil closed higher on Monday renewing the rally off this month's low. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain 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 renews the decline off January's high, December's low crossing is the next downside target.
 Natural Gas Technical Analysis
Natural gas closed lower on Monday and the mid-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are 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 reaction high crossing are needed to confirm that a short-term low has been posted.
 Coffee Technical Analysis
The coffee futures market closed lower on Monday and posted a new low for the year. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. If it extends the decline off January's high, weekly support crossing is the next downside target. Closes above the 20 day moving average crossing would 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.
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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'Daily Commodities Trading Technical Analysis Covering Oil, Gold, Silver' edited by PipTrade, updated 14-Feb-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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