Commodities technical analysis 1/17/2017

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

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Gold is still below 100 and 200 SMA 1244 and 1275 level. This leaves us in a downtrend and the instrument is reaching extreme downside support zone 1200-1215. This zone should hold for a medium-term downtrend continuation.


 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. Look to fade any rallies to 16.80-17.20 zone.


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 weeks. SL on shorts here should be above 55. No change in view and we expect Oil to test 48 on the downside after the triangle break and retest.



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. Support for this swing lower is 3.390-3.500 zone. Retest of broken wedge is under way look for reaction in support zone.


Is forming a flag below 200 SMA 452 level. It needs a break below 400 for downside continuation. No change in view waiting for a break of the wedge for further direction.


Watching  71.84 for a clear directional break. We have a break from the triangle and above 71.80. If you haven’t entered long on breaking you should wait for the pullback to 72.50-73.50 for long entries. The pullback is in progress and longs here should have 71.20 SL. Target is 78.



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 away and we could see the retest of 250 in the coming days and weeks. We have a retest of 250-260 now and correction could extend to 235-240 if we get a rejection form here.

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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