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European Commodities -- Technical Analysis

23 Jan 2018 7:41 am
   By TRADING Central 
   The Dow Jones Newswires technical analysis partner 
London (Dow Jones)--Rolling 24-hour chart levels: 
Futures:          ICE        NYMEX      COMEX     COMEX 
                  Brent      Crude      Gold      Silver 
                  ICE        WTI        CME       CME 
Spot 0734 GMT+2   69.03      63.57      1331.90   16.989 
1 Week Trend      Bullish    Bullish    Bullish   Bullish 
1 Month Trend     Bullish    Bullish    Bullish   Range 
3rd Resistance    70.35      64.85      1350.00   17.310 
2nd Resistance    70.05      64.50      1345.00   17.220 
1st Resistance    69.80      64.25      1341.00   17.130 
Pivot*            69.35      63.92      1334.80   17.022 
1st Support       68.80      63.60      1332.00   16.910 
2nd Support       68.30      63.35      1328.00   16.800 
3rd Support       68.00      63.05      1325.00   16.700 

Intraday Brent (ICE): the RSI is bullish and calls for further upside. Suggest long positions above 68.80 with targets at 69.80 & 70.05 in extension. below 68.80 look for further downside with 68.30 & 68.00 as targets.

1 month trend: Bullish

Intraday Crude Oil (NYMEX): the RSI calls for a rebound. A strong support has formed around 63.60, which should limit any downside room. Suggest long positions above 63.60 with targets at 64.25 & 64.50 in extension. below 63.60 look for further downside with 63.35 & 63.05 as targets.

1 month trend: Bullish

Intraday Gold (COMEX): the RSI is mixed with a bullish bias. Suggest long positions above 1332.00 with targets at 1341.00 & 1345.00 in extension. below 1332.00 look for further downside with 1328.00 & 1325.00 as targets.

1 month trend: Bullish

Intraday Silver (COMEX): the RSI lacks downward momentum. Suggest long positions above 16.91 with targets at 17.13 & 17.22 in extension. below 16.91 look for further downside with 16.80 & 16.70 as targets.

1 month trend: Range

* The pivot is the sum of the high, low and close divided by 3.

For more technical analysis see: Dow Jones Newswires, N/DJTA; Telerate, pages 4209,1108,4210,1105,5041,4142; Bloomberg, NI DJTA; and Reuters key word search "INSI-DJN"

This content was produced exclusively for Dow Jones by Trading Central, a leading investment research and commentary service specializing in technical analysis (www.tradingcentral.com).

This is a financial news and information service. It is provided in general terms and does not take account of or address any individual user's position. To the extent that this article includes suggestions as to various possible investment strategies which users might consider, it does so in only general terms without reference to the personal factors which should determine any user's investment decisions. Nothing contained in this service constitutes personalized investment advice. Dow Jones does not warrant the accuracy, completeness or timeliness of the information in this article, and any errors shall not be made the basis for any claim against Dow Jones. The author does not invest in the instruments or markets cited in this article. This article does not constitute or form part of any invitation or inducement to buy or sell any security.

(END) Dow Jones Newswires

January 23, 2018 02:41 ET (07:41 GMT)

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