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Commodities Technical Analysis, August 28th – September 1st, 2017

By:

Andriy Moraru

Published: Aug 27, 2017, 11:29 GMT+00:00

Gold traded in a range during the previous week as traders were cautious before the Jackson Hole summit. Gold closed the previous week at $1297.90,

Gold traded in a range during the previous week as traders were cautious before the Jackson Hole summit. Gold closed the previous week at $1297.90, just below the $1300 level.

Oil prices finished the week higher as traders focused on the hurricane in Texas.

The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver, and Copper as traded on spot market as of August 27th, 2017:

Crude Oil

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Neutral	Neutral	Long	Neutral

Crude Oil Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
45.14	46.10	46.94	47.90	48.74	49.70	50.54

Crue Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
47.05	47.47	47.74	47.95	48.16	48.85

Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Neutral	Short	Long

Gold Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1261.41	1268.59	1279.80	1286.98	1298.19	1305.37	1316.58

Gold Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
1275.78	1280.12	1282.80	1284.98	1287.15	1294.17

Gold Daily Chart – Fibonacci

Silver

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Neutral	Long	Neutral

Silver Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
16.27	16.48	16.75	16.96	17.23	17.44	17.71

Silver Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
16.69	16.80	16.87	16.93	16.99	17.17

Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Overbought	Long	Long

Copper Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
285.23	289.50	296.04	300.31	306.85	311.12	317.66

Copper Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
293.77	296.32	297.90	299.18	300.45	304.58

Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

About the Author

Andriy Morarucontributor

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