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Commodities Technical Analysis, October 16th – October 20th, 2017
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Gold prices finished the previous week higher on lower-than-expected U.S. consumer inflation report. Gold rose during the previous week 2.33%.
Gold prices finished the previous week higher on lower-than-expected U.S. consumer inflation report. Gold rose during the previous week 2.33% to settle at $1304.60.
Oil prices also rose significantly during the previous week amid China’s import data and the geopolitical tension in Iraq. WTI crude oil prices gained 4.19% to close the week at $51.73.
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 October 15th, 2017:
Crude Oil
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Long | Neutral | Long | Neutral |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 47.17 | 48.15 | 49.74 | 50.72 | 52.31 | 53.29 | 54.88 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 49.12 | 49.73 | 50.10 | 50.41 | 50.71 | 51.69 |
Gold
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Long | Long |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 1262.99 | 1271.11 | 1287.32 | 1295.44 | 1311.65 | 1319.77 | 1335.98 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 1279.22 | 1284.96 | 1288.51 | 1291.39 | 1294.26 | 1303.55 |
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 |
| 16.43 | 16.62 | 16.99 | 17.18 | 17.55 | 17.74 | 18.11 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 16.81 | 16.94 | 17.02 | 17.09 | 17.16 | 17.37 |
Copper
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 |
| 291.43 | 296.01 | 304.05 | 308.63 | 316.67 | 321.25 | 329.29 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 300.60 | 303.58 | 305.42 | 306.91 | 308.40 | 313.22 |
This post was originally published by EarnForex
About the Author
Andriy Morarucontributor
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