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Commodities Technical Analysis, October 2nd – October 6th, 2017
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Gold prices settled lower last week as concerns over North Korea eased and rate hike odds increased after Hawkish Fed and good economic data from the US.
Gold prices settled lower last week as concerns over North Korea eased and rate hike odds increased after Hawkish Fed and better than expected economic data released from the US.
Oil prices rose during the previous week on increased demand according to OPEC reports and the IEA.
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 1st, 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 |
| 47.87 | 49.12 | 50.33 | 51.58 | 52.79 | 54.04 | 55.25 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 50.37 | 50.95 | 51.31 | 51.60 | 51.89 | 52.83 |
Gold
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Short | Short |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 1231.35 | 1254.44 | 1267.20 | 1290.29 | 1303.05 | 1326.14 | 1338.90 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 1277.52 | 1285.98 | 1291.21 | 1295.45 | 1299.68 | 1313.37 |
Silver
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Short | Short |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 15.79 | 16.20 | 16.41 | 16.82 | 17.03 | 17.44 | 17.65 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 16.60 | 16.75 | 16.84 | 16.91 | 16.98 | 17.22 |
Copper
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Long | Neutral |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 280.96 | 285.20 | 289.76 | 294.00 | 298.56 | 302.80 | 307.36 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 289.43 | 291.51 | 292.79 | 293.83 | 294.87 | 298.23 |
This post was originally published by EarnForex
About the Author
Andriy Morarucontributor
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