Commodities technical analysis 1/05/2017

Commodities technical analysis XAUUSD, XAGUSD, OIL, NAT GAS, WHEAT, COTTON, COPPER

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Gold is again below 200 SMA 1281 level calling for more weakness. Targets on the downside are 1190 and 1170. Target is being hit and now downside support is 1200. Look for chances of short position here. SL should be above 1200. No change in view below 1169 targets are 1100 and 1080.


 Silver is retracing recent swing lower but is still in a downtrend. Target on the downside is 15. SL on shorts here should be above 17. No change in view.


Has reached strong upside resistance 52-54 zone and we expect rejection here for a sideways price action between 45-50 in the coming days and weeky. SL on shorts here should be above 55. No change in view and we expect Oil to test 48 on the downside.


Natural has is retesting broken uptrend line and is being rejected at the key 3.800 level and is continuing lower. SL on shorts should be above 3.8000 targeting 3.000 near term. Buying only on a clear break and close above 4.000. No change in view.




Is continuing downside below SMA  downside support zone SL should be above 420. Downside extension should continue with a break and close below 380.



Watching  71.84 for a clear directional break. We have a break from triangle and above 71.80. If you haven’t entered long on breaking you should wait for pullback to 72.50-73.50 for long entries.


Long term view published HERE. Major triangle break and we see this as long trading opportunity SL should be below 214 targeting 280 and higher. Target zone 270-280 has been hit and we could see little hesitation around 200 SMA (blue line) 277 level. Watching price action here. So far rejection is on a way and we could see retest of 250 in the coming days and weeks. We have a retest of 250 now and correction could extend to 235-240.

Commodities rising with stock indices and we are bullish on most of them  except gold, silver and energies for now.

A commodity market is a physical or virtual marketplace for buying, selling and trading raw or primary products, and there are currently about 50 major commodity markets worldwide that facilitate investment trade in approximately 100 primary commodities.

What are examples of commodities?Commodities are split into two types: hard and soft commodities. Hard commodities are typically natural resources that must be mined or extracted (such as gold, rubber and oil), whereas soft commodities are agricultural products or livestock (such as corn, wheat, coffee, sugar, soybeans and pork).

Technical analysis on commodities is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site.

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