Commodities Technical Analysis, July 24th – July 28th, 2017

Gold surged to its highest level since June 28th on lowered rate hike expectations and on a weakening US dollar versus the Euro and Aussie. Spot Gold finished the previous week at $1254.50.

Crude oil posted a two sided trade last week, however, the commodity dropped 2.77% to close the week at $45.62 a barrel.

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 July 23rd, 2017:

Crude Oil

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Long Neutral Long Neutral
Crude Oil Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

42.67 44.10 44.87 46.30 47.07 48.50 49.27
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%

45.53 46.05 46.37 46.63 46.89 47.73
Crude Oil Daily Chart - Fibonacci
Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Short Neutral Long Long
Gold Daily Chart - MA
Gold Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

1210.42 1219.77 1236.88 1246.23 1263.34 1272.69 1289.80
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%

1229.13 1235.37 1239.24 1242.36 1245.48 1255.59
Gold Daily Chart - Fibonacci
Gold Daily Chart – Fibonacci

Silver

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Short Neutral Long Long
Silver Daily Chart - MA
Silver Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

15.50 15.72 16.08 16.30 16.66 16.88 17.24
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%

15.93 16.07 16.15 16.22 16.29 16.51
Silver Daily Chart - Fibonacci
Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Long Neutral Long Neutral
Copper Daily Chart - MA
Copper Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

263.08 265.61 268.16 270.69 273.24 275.77 278.32
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%

268.15 269.35 270.09 270.69 271.29 273.23
Copper Daily Chart - Fibonacci
Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

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