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Commodities Technical Analysis, October 16th – October 20th, 2017

By:
Andriy Moraru
Published: Oct 15, 2017, 11:10 UTC

Gold prices finished the previous week higher on lower-than-expected U.S. consumer inflation report. Gold rose during the previous week 2.33%.

Commodities Technical Analysis

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
Crude Oil Daily Chart - Indicators
Crude Oil Daily Chart – Indicators

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
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%
49.12 49.73 50.10 50.41 50.71 51.69
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

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

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
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%
1279.22 1284.96 1288.51 1291.39 1294.26 1303.55
Gold Daily Chart - Fibonacci
Gold Daily Chart – Fibonacci

Silver

Indicators

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

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
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%
16.81 16.94 17.02 17.09 17.16 17.37
Silver Daily Chart - Fibonacci
Silver Daily Chart – Fibonacci

Copper

Indicators

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

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
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%
300.60 303.58 305.42 306.91 308.40 313.22
Copper Daily Chart - Fibonacci
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

About the Author

Andriy Morarucontributor

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