Commodities Technical Analysis, October 9th – October 13th, 2017
Gold prices finished lower the previous week on good economic data from the US. Prices recovered on Friday after the non-farm payrolls report that a record drop of 33,000.
Oil prices closed the previous week sharply lower on global supply glut and profit taking.
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 October 8th, 2017:
Crude Oil
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Long | Neutral | Short | Short |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 45.86 | 47.47 | 48.38 | 49.99 | 50.90 | 52.51 | 53.42 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 49.08 | 49.67 | 50.04 | 50.34 | 50.64 | 51.60 |
Gold
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Short | Neutral |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 1240.95 | 1250.66 | 1262.54 | 1272.25 | 1284.13 | 1293.84 | 1305.72 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 1260.38 | 1265.48 | 1268.63 | 1271.18 | 1273.72 | 1281.97 |
Silver
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Short | Neutral | Short | Neutral |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 15.83 | 16.06 | 16.41 | 16.64 | 16.99 | 17.22 | 17.57 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 16.29 | 16.43 | 16.51 | 16.58 | 16.65 | 16.87 |
Copper
Indicators
| Moving Averages | RSI | Parabolic SAR | CCI |
| Long | Neutral | Long | Long |
Floor Pivot Points
| 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| 280.96 | 286.30 | 293.91 | 299.25 | 306.86 | 312.20 | 319.81 |
Fibonacci Retracement Levels
| 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
| 291.63 | 294.69 | 296.58 | 298.11 | 299.63 | 304.58 |
This post was originally published by EarnForex
This article was originally posted on FX Empire