Among other markets, commodities formed an interesting trade action during the previous week. Gold ‘Flash crash’ was a major event although gold was trading relatively clam beside the bizarre event. Crude oil prices bounced back to trade higher as reports confirmed that oil supply decreased.
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 2nd, 2017:
Crude Oil
Indicators
Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Long | Long |
Floor Pivot Points
3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 40.21 | 41.43 | 43.80 | 45.02 | 47.39 | 48.61 | 50.98 |
Fibonacci Retracement Levels
0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 42.65 | 43.50 | 44.02 | 44.45 | 44.87 | 46.24 |
Gold
Indicators
Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Short | Short |
Floor Pivot Points
3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 1214.69 | 1225.45 | 1233.31 | 1244.07 | 1251.93 | 1262.69 | 1270.55 |
Fibonacci Retracement Levels
0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 1236.21 | 1240.60 | 1243.32 | 1245.52 | 1247.72 | 1254.83 |
Silver
Indicators
Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Long | Neutral |
Floor Pivot Points
3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 15.63 | 15.94 | 16.27 | 16.58 | 16.91 | 17.22 | 17.55 |
Fibonacci Retracement Levels
0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 16.24 | 16.39 | 16.48 | 16.56 | 16.64 | 16.88 |
Copper
Indicators
Moving Averages | RSI | Parabolic SAR | CCI |
| Long | Overbought | Long | Long |
Floor Pivot Points
3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 253.90 | 257.11 | 263.15 | 266.36 | 272.40 | 275.61 | 281.65 |
Fibonacci Retracement Levels
0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 260.33 | 262.51 | 263.86 | 264.96 | 266.05 | 269.58 |
This post was originally published by EarnForex
This article was originally posted on FX Empire