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Commodities Technical Analysis, July 31st – August 4th, 2017
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Gold prices continues to trade higher last as dovish Fed and weak economic events raised concerns that the Fed will raise interest rate soon. Spot gold
Gold prices continues to trade higher last as dovish Fed and weak economic events raised concerns that the Fed will raise interest rate soon. Spot gold settled on $1269.50.
Crude oil prices were affected by OPEC meeting on Monday as well as the huge inventory drop by API and EIA.
Crude Oil
Indicators
Moving Averages |
RSI |
Parabolic SAR |
CCI |
| Long | Neutral | Long | Long |
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 42.34 | 43.86 | 46.77 | 48.29 | 51.20 | 52.72 | 55.63 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 45.39 | 46.44 | 47.08 | 47.61 | 48.13 | 49.82 |
Gold
Indicators
Moving Averages |
RSI |
Parabolic SAR |
CCI |
| Long | Neutral | Long | Long |
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 1224.38 | 1233.96 | 1251.47 | 1261.05 | 1278.56 | 1288.14 | 1305.65 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 1243.53 | 1249.92 | 1253.88 | 1257.08 | 1260.27 | 1270.62 |
Silver
Indicators
Moving Averages |
RSI |
Parabolic SAR |
CCI |
| Neutral | Neutral | Long | Long |
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 15.75 | 15.98 | 16.34 | 16.57 | 16.93 | 17.16 | 17.52 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 16.21 | 16.35 | 16.44 | 16.51 | 16.57 | 16.80 |
Copper
Indicators
Moving Averages |
RSI |
Parabolic SAR |
CCI |
| Long | Overbought | Long | Long |
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 255.74 | 262.90 | 274.52 | 281.68 | 293.30 | 300.46 | 312.08 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 270.05 | 274.48 | 277.22 | 279.44 | 281.66 | 288.83 |
This post was originally published by EarnForex
About the Author
Andriy Morarucontributor
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