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Commodities Technical Analysis, July 17th – July 21st, 2017

By:
Andriy Moraru
Updated: Jul 16, 2017, 12:28 UTC

Gold prices posted a strong gain last week as economic data from the US raised concerns over the Fed’s projections for another rate hike this year. Crude

Commodities Technical Analysis

Gold prices posted a strong gain last week as economic data from the US raised concerns over the Fed’s projections for another rate hike this year.

Crude oil traders shrugged off potentially negative news to post a strong close for the week. In the week ahead, markets will continue to focus central banks rate  hike projections with the RBA meeting minutes, BoJ rate decision and ECB rate decision.

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 July 16th, 2017:

Crude Oil

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Neutral Neutral Long Neutral
Crude Oil Daily Chart - MA
Crude Oil Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

41.52 42.58 44.59 45.65 47.66 48.72 50.73
Crude Oil Daily Chart - Pivot Points
Crude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

43.64 44.36 44.81 45.18 45.54 46.71
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Short Neutral Long Neutral
Gold Daily Chart - MA
Gold Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

1182.85 1193.73 1210.88 1221.76 1238.91 1249.79 1266.94
Gold Daily Chart - Pivot Points
Gold Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

1204.61 1211.23 1215.32 1218.63 1221.93 1232.64
Gold Daily Chart - Fibonacci
Gold Daily Chart – Fibonacci

Silver

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Short Neutral Long Neutral
Silver Daily Chart - MA
Silver Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

14.47 14.81 15.37 15.71 16.27 16.61 17.17
Silver Daily Chart - Pivot Points
Silver Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

15.16 15.37 15.50 15.61 15.72 16.06
Silver Daily Chart - Fibonacci
Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Long Neutral Short Neutral
Copper Daily Chart - MA
Copper Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

256.31 258.75 263.12 265.56 269.93 272.37 276.74
Copper Daily Chart - Pivot Points
Copper Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

261.20 262.81 263.80 264.61 265.41 268.01
Copper Daily Chart - Fibonacci
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

About the Author

Andriy Morarucontributor

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