U.S. Markets open in 2 hrs 23 mins

Commodities Technical Analysis, August 14th – August 18th, 2017

Andriy Moraru

As a result of the tension between US and North Korea, safe haven assets demand increased during the previous week. Gold touched its two month high to finish the week at $1295. Copper and Silver followed the trend.

Oil prices pushed higher during most of the previous week, however, Thursday’s OPEC data proved higher production, leading to a trend reversal.

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 August 13th, 2017:

Crude Oil

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Neutral Short Neutral
Crude Oil Daily Chart – Indicators

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
45.54 46.76 47.77 48.99 50.00 51.22 52.23
Crude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
47.98 48.51 48.83 49.10 49.36 50.21
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Overbought Long Long
Gold Daily Chart - Indicators

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1223.85 1237.60 1264.29 1278.04 1304.73 1318.48 1345.17
Gold Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
1251.34 1260.88 1266.79 1271.56 1276.33 1291.78
Gold Daily Chart -Fibonacci

Silver

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
15.24 15.67 16.37 16.80 17.50 17.93 18.63
Silver Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
16.09 16.36 16.52 16.66 16.79 17.22
Silver Daily Chart – Fibonacci

Copper

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
277.76 281.97 286.05 290.26 294.34 298.55 302.63
Copper Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
286.18 288.14 289.35 290.33 291.30 294.47
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

This article was originally posted on FX Empire

More From FXEMPIRE: