Commodities technical analysis 1/31/2017

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

Click on the chart image to enlarge it


The instrument is retesting the broken double top neckline zone 1195-1205. Watching the price action here for rejection and a possible short entry. Only above 1220 we could see a test off 100 SMA 1233 level.


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. A daily break below 16.50 is needed for downside continuation. Only the daily break above 17.90 will invalidate the medium term downtrend. No change in view the instrument is testing 100 SMA now 17.48 level, looking for rejection here for short entries.


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. No change in view.



Natural has is rejected from a broken wedge line and look only for short trades here for now. Falling trend line and 3.500 level are strong downside support and we got a rejection from this level for downside continuation targeting 3.000. Invalidation of the medium-term downtrend only on a break above 3.700.


Is forming a flag below 200 SMA 452 level. It needs a break below 400 for downside continuation. Looking only for shorts here for now with SL above 450 targeting 391 and 363. No change in view the instrument is testing the flag 400 level.


Cotton longs have reached their first target which is also the strong upside resistance. Look for longs as long as 71.80 level holds and move the SL on longs to break even. Fresh longs only on a break above 75.35.



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 from here. No change in view we have a rejection from 260-270 zone and copper could be in a 230-260 range.

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.

Scroll to Top