|Day's Range||16.960 - 17.460|
Natural gas prices rebounded from session lows, but still closed in the red. There is a wave that is sitting off the coast of Florida that the National Oceanic Atmospheric Administration believes has a 70% chance of turning into a tropical cyclone. Additionally, there is a disturbance in the southern Atlantic that is moving toward the United States which NOAA gives a 40% chance at becoming a tropical cyclone.
The stock markets initially tried to rally during the day on Friday but broke down as the 50 day EMA has come back into the fold to start selling. We are still stuck between a couple of major EMA indicators, so that’s something to pay attention to as well.
Natural gas markets initially tried to rally during the week but have given back quite a bit of the gains, forming a bit of a shooting star which of course is a very negative sign. With that, it looks like the negative and massive downtrend should continue.
Gold markets initially fell during the week but found enough support near the $1500 level to turn things around of form a bit of a hammer. We are at extended levels though, so the question then becomes whether or not we can continue this move.
The British pound initially fell during the week but then rallied towards the crucial 1.2250 level again. This is an area that has been important more than once, so it makes sense that we are struggling just a bit here. That being said though, I think that the market is simply bouncing from a very low level.
The British pound has gone back and forth during trading on Friday, as we continue to see a lot of volatility in Sterling. Quite frankly, there is nothing on the horizon that looks like the Brexit is going to be salt, so this should offer a nice selling opportunity at higher levels.
The British pound continues to go back and forth against the Japanese yen which makes quite a bit of sense considering we have so much in the way of risk out there right now. Remember, this pair will fall if there is more of a “risk off” attitude out there, and therefore it’s going to struggle to rally.
BENGALURU/MUMBAI (Reuters) - Most Asian hubs experienced a slight uptick in physical gold demand this week as consumers took advantage of a retreat in prices, with cheaper silver continuing to be the preferred bet. While global benchmark spot gold prices were on course for a weekly decline, they hovered close to $1,500 an ounce as uncertainties surrounding U.S.-China trade and fears over the global economy offered support. "Demand has picked up because investors have realised that geopolitical risks are still around and are looking for safe havens," said Brian Lan, managing director at Singapore dealer GoldSilver Central.
Fortuna Silver Mines Inc. (TSE:FVI) shareholders will doubtless be very grateful to see the share price up 48% in the...
Silver markets fell a bit during the trading session on Thursday but found buyers underneath the $17.00 level. Because of this, there is certainly more of an upward bias in this market and with central bankers meeting in Jackson Hole over the next couple of days, headlines will continue to drive this market.
The natural gas markets rallied a bit during the trading session on Thursday, but we still have a ton of resistance above so it’s can be very difficult to keep this market going to the upside. All things being equal, I do believe that nothing is changed although we have started to switch toward trading October.
Gold markets pulled back initially during the trading session on Thursday, reaching down towards the $1500 level. That’s an area that is a large, round, psychologically significant figure, so obviously we attracted a lot of buying.
The US dollar fell a bit during the trading session initially on Thursday but then turned around to rally and reach towards the resistance above. With central bankers meeting at Jackson Hole over the next couple of days, it makes sense that the market might be a bit tentative.
Natural gas markets initially tried to rally during the trading session on Wednesday but continues to find plenty of selling pressure above as the 50 day EMA has been rather reliable. At this point, I think that the market probably continues to drift a bit of lower given enough time.
At 14:30 GMT, the EIA will release its weekly inventories report. It is expected to show a 1.4 million barrel draw down. We could see above average volatility with the release of today’s numbers since we are nearing the end of peak U.S. driving season.
The fundamentals appear to have reached a stalemate, which supports the sideways-to-higher chart pattern. Since the technicals tend to precede the fundamentals, where likely to see the next move determined by chart watchers.
It will send that power through an Audi Sport-tuned eight-speed automatic and, of course, Quattro all-wheel drive that'll operate a 40/60 torque split in regular driving conditions. All that efficiency talk is nice and all, but this is a silly high-powered wagon, and the info you're more likely interested in is Audi Sport's 0-60-mph estimate of 3.6 seconds. The enormous wheels, which look removed from a Conestoga wagon, are in fact 22-inch optional rims with a light pasting of rubber.
Gold markets rallied slightly during the day on Tuesday as the $1500 level has attracted a certain amount of buying pressure. However, we may need to pullback in order to pick up enough momentum to go forward.
Talk of a synchronized world – all three economic superpowers are in a recession! The U.S. suffers from industrial recession, Japan from export recession, while Germany may fall into a broad economic recession. Will the gold market warm up to these news?