Daily Commodity Financial Spread Betting Technical Analysis on Oil, Natural Gas, Coffee
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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 - 5 April 2012
 Gold Technical Analysis
Gold closed sharply lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning neutral signalling that sideways-to-lower prices are possible near-term. If it renews the decline off February's high, the 75% retracement level of the December-February rally crossing is the next downside target. Closes above Monday's high crossing would confirm that a short-term low has been posted.
 Silver Technical Analysis
Silver closed lower on Wednesday and the low-range close set the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are still bullish signalling that sideways-to-higher prices are possible near-term. Multiple closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off February's high, the 62% retracement level of the December-February rally crossing is the next downside target.
 Crude Oil Technical Analysis
Crude oil closed sharply lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. Closes above the 20 day moving average crossing are needed to confirm that a short-term low has been posted. If it extends the decline off March's high, the 38% retracement level of the October-March rally crossing is the next downside target.
 Natural Gas Technical Analysis
Natural gas closed lower on Wednesday ending a two day bounce off Monday's low. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20 day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the multiyear decline, monthly support crossing is the next downside target.
 Coffee Technical Analysis
The coffee futures market closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. 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, 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.
'Daily Commodity Financial Spread Betting Technical Analysis on Oil, Natural Gas, Coffee' edited by PipTrade, updated 05-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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