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Commodities Technical Analysis, September 25th – September 29th, 2017

By:
Andriy Moraru
Published: Sep 24, 2017, 11:14 UTC

Gold dropped last week and poised for the worst weekly performance since July on Hawkish fed and raising investors' expectations for a rate hike.

Commodities

Gold prices dropped last week and poised for their worst weekly performance since July. The gold dropped in reaction to Hawkish fed and investors’ expectations for a third rate hike this year.

Oil prices closed the previous week higher on a bullish outlook for demand from OPEC 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 September 24th, 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
47.60 48.38 49.51 50.29 51.42 52.20 53.33
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
49.17 49.62 49.90 50.13 50.35 51.08
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1253.39 1270.65 1283.66 1300.92 1313.93 1331.19 1344.20
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%
1287.90 1295.04 1299.46 1303.04 1306.61 1318.17
Gold Daily Chart - Fibonacci
Gold Daily Chart – Fibonacci

Silver

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
15.85 16.32 16.64 17.11 17.43 17.90 18.22
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%
16.80 16.99 17.10 17.20 17.29 17.59
Silver Daily Chart - Fibonacci
Silver Daily Chart – Fibonacci

Copper

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
276.80 281.58 286.70 291.48 296.60 301.38 306.50
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%
286.35 288.69 290.13 291.30 292.47 296.25
Copper Daily Chart - Fibonacci
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

About the Author

Andriy Morarucontributor

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