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Commodities Technical Analysis, September 11th – September 15th, 2017
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Gold continued to climb during the previous week to hit its highest price in more than a year in reaction to decreasing rate hike expectations and
Gold continued to climb during the previous week to hit its highest price in more than a year in reaction to decreasing rate hike expectations and geopolitical uncertainty.
Oil prices settled slightly higher as traders still assessing Hurricane Harvey’s impact. In the week ahead, oil prices will be in focus as Hurricane Irma will trigger gasoline shortage.
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 September 10th, 2017:
Crude Oil
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Neutral | Neutral | Long | Neutral |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 44.44 | 45.79 | 46.69 | 48.04 | 48.94 | 50.29 | 51.19 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 47.14 | 47.67 | 48.00 | 48.27 | 48.53 | 49.39 |
Gold
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Long | Overbought | Long | Neutral |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 1297.84 | 1311.89 | 1329.20 | 1343.25 | 1360.56 | 1374.61 | 1391.92 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 1325.95 | 1333.35 | 1337.93 | 1341.63 | 1345.33 | 1357.31 |
Silver
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 |
| 17.32 | 17.54 | 17.76 | 17.98 | 18.20 | 18.42 | 18.64 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 17.75 | 17.85 | 17.92 | 17.97 | 18.02 | 18.19 |
Copper
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Long | Neutral | Short | Short |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 281.60 | 290.98 | 295.96 | 305.34 | 310.32 | 319.70 | 324.68 |
Fibonacci retracement levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 300.35 | 303.74 | 305.84 | 307.53 | 309.22 | 314.71 |
This post was originally published by EarnForex
About the Author
Andriy Morarucontributor
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