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Commodities Technical Analysis, November 6th – November 10th, 2017

By:
Andriy Moraru
Published: Nov 5, 2017, 12:33 GMT+00:00

Gold prices closed the previous week slightly lower as the uptrend momentum failed to push prices higher. Gold settled at $1269.20, down or -0.20%.

Commodities Technical Analysis, November 6th – November 10th, 2017

Gold prices closed the previous week slightly lower as the uptrend momentum failed to push prices higher. Gold settled at $1269.20, down or -0.20%.

WTI crude oil prices continue to rise during the previous week as rising global demand increased and over expectations that OPEC and other producing countries will extend a deal to cut production. WTI crude oil settled at $55.64, up +3.23%

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 November 5th, 2017:

Crude Oil

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Overbought Long Long
Crude Oil Daily Chart – Indicators

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
52.37 53.06 54.37 55.06 56.37 57.06 58.37
Crude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
53.75 54.22 54.51 54.75 54.99 55.75
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages RSI Parabolic SAR CCI
Short Neutral Long Neutral
Gold Daily Chart – Indicators

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1243.27 1254.30 1262.14 1273.17 1281.01 1292.04 1299.88
Gold Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1265.33 1269.78 1272.54 1274.77 1276.99 1284.20
Gold Daily Chart – Fibonacci

Silver

Indicators

Moving Averages RSI Parabolic SAR CCI
Neutral Neutral Long Neutral
Silver Daily Chart – Indicators

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
15.93 16.28 16.55 16.90 17.17 17.52 17.79
Silver Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
16.62 16.77 16.86 16.93 17.00 17.24
Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Neutral Short Neutral
Copper Daily Chart – Indicators

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
297.20 302.56 306.55 311.91 315.90 321.26 325.25
Copper Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
307.93 310.14 311.50 312.61 313.71 317.28
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

About the Author

Andriy Morarucontributor

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