Commodities Technical Analysis, August 7th – August 11th, 2017

Although gold prices rose to a seven week high during the previous week, better than expected NFP report on Friday pushed gold prices down to finish a negative week at $1258.25.

Crude oil prices were mixed during the previous week as every day had a different price action sentiment. However, in the end of the week, oil prices finished relatively unchanged.

In the week ahead, OPEC and IEA will publish their monthly reports.

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 6th, 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
46.34 47.35 48.39 49.40 50.44 51.45 52.49
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%
48.35 48.83 49.13 49.38 49.62 50.40
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Neutral Short 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
1230.34 1242.16 1250.25 1262.07 1270.16 1281.98 1290.07
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%
1253.98 1258.68 1261.59 1263.94 1266.28 1273.89
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
15.19 15.68 15.96 16.45 16.73 17.22 17.50
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%
16.16 16.34 16.45 16.55 16.64 16.93
Silver Daily Chart - Fibonacci
Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages RSI Parabolic SAR CCI
Long Overbought 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
280.70 282.86 285.30 287.46 289.90 292.06 294.50
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%
285.03 286.12 286.79 287.33 287.87 289.63
Copper Daily Chart - Fibonacci
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

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