Commodities Analysis 13 June 2011
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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 - 13 June 2011
 Gold Technical Analysis
Gold closed lower on Friday as it consolidates some of the rally off May's low. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are turning neutral-to-bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends the rally off May's low, May's high crossing is the next upside target.
 Silver Technical Analysis
Silver closed lower due to profit taking on Friday. The low-range close set the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. Closes below the reaction low crossing would confirm that a short-term top has been posted. If it renews the rally off May's low, the reaction high crossing is the next upside target.
 Crude Oil Technical Analysis
Crude Oil closed lower due to profit taking on Friday while extending May's trading range. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are neutral-to-bullish signaling that sideways-to-higher prices are possible near-term. If it renews the rally off May's low, the reaction high crossing is the next upside target. Closes below the reaction low crossing would temper the near-term friendly outlook.
 Natural Gas Technical Analysis
Natural Gas posted an inside day with a higher close on Friday as it consolidated some of Thursday's key reversal down. The high-range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI are turning neutral-to-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 extends the rally off May's low, the reaction high crossing is the next upside target.
 Coffee Technical Analysis
Coffee closed lower on Friday and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish signaling that sideways-to-higher prices are possible near-term. If it extends the rally off last Friday's low, the reaction high crossing is the next upside target.
Further Commodities Market Commentary and Data
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'Commodities Analysis 13 June 2011' edited by PipTrade, updated 13-Jun-11
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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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