Commodities Technical Analysis, August 21st – August 25th, 2017

Gold closed the previous week unchanged as investors speculate whether the Fed outlook is hawkish or dovish. Gold prices have been also affected by the geopolitical tension between North Korea sand the US and the terror attack in Spain. Gold trades around the $1291 and is expected to test $1300 as geopolitical tension continue to weigh on markets.

Oil prices closed the previous week in a mixed sentiment as concern of high US production clash with OPEC’s output cut.

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 20th, 2017:

Crude Oil

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
44.69 45.65 47.21 48.17 49.73 50.69 52.25
Crude Oil Daily Chart - Pivot Points
Crude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
46.60 47.19 47.56 47.86 48.16 49.12
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1235.16 1251.11 1268.66 1284.61 1302.16 1318.11 1335.66
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%
1267.07 1274.98 1279.87 1283.82 1287.77 1300.57
Gold Daily Chart - Fibonacci
Gold Daily Chart – Fibonacci

Silver

Indicators

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

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
15.83 16.19 16.59 16.95 17.35 17.71 18.11
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%
16.54 16.72 16.83 16.92 17.01 17.30
Silver Daily Chart - Fibonacci
Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Neutral Long 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
276.39 281.48 287.08 292.17 297.77 302.86 308.46
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%
286.57 289.09 290.65 291.92 293.18 297.26
Copper Daily Chart - Fibonacci
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

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