Broad-based decline was seen in commodity prices amid recovery in USD. WTI crude oil price dropped -3.2% to settle at 67.71 while Brent crude oil fell -3.7% to 68.69. Product prices plunged…
Gold Daily Technical Outlook
Comex Gold (GC) Gold’s fall from 1025.8 extends further today and is back pressing 1000 level. As discussed before, a short term top is in place with bearish divergence conditions in 4…
Silver Daily Technical Outlook
Comex Silver (SI) Silver’s pull back from 17.69 is still in progress and extends further today. As discussed before, a short term top is in place with bearish divergence conditions in 4…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s retreat from 73.16 extends further today and is now back pressing 70 level. Outlook remains neutral for the moment with question of whether price actions from…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural Gas continues to consolidate in range below 3.90 today. At this point, intraday outlook remains neutral. Nevertheless, with daily MACD staying positive, a short term bottom should…
Correction Seen in Commodities as Strength in USD Curbs Hedging Demands
Crude oil price slides further and approaches 70 in European morning with USD’s rebound and stock market’s weakness the main drivers. Prices on heating oil and gasoline also plunge to 1.793 and…
Crude Oil Retreats – Investors Need Evidence on Demand
Crude oil price trades narrowly with a soft tone in Asia Monday. Although we have received some stronger-than-expected economic data and the global environment seems to have turned more positive, all these…
Gold Weekly Technical Outlook
Comex Gold (GC) Gold edged higher to 1025.8 last week but lost upside momentum ahead of 1033.9 key resistance. With bearish divergence conditions in 4 hours MACD and RSI, a short term…
Silver Weekly Technical Outlook
Comex Silver (SI) Silver’s rally extended further to as high as 17.69 last week before retreating mildly. Considering bearish divergence conditions in 4 hour MACD and RSI, a short term top might…
Crude Oil Weekly Technical Outlook
Nymex Crude Oil (CL) Despite rebounding to 73.16 last week, there was no clear direction in crude oil yet and it’s still staying in established range below 75.0 high. Initial outlook remain…