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European Commodities -- Technical Analysis

2 Mar 2018 7:23 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 0809 GMT+2   63.83      60.99      1305.20   16.276 
1 Week Trend      Bullish    Bullish    Bullish   Bearish 
1 Month Trend     Bullish    Bullish    Bullish   Bearish 
3rd Resistance    65.55      62.95      1332.50   16.720 
2nd Resistance    65.05      62.35      1328.00   16.610 
1st Resistance    64.50      61.55      1322.50   16.560 
Pivot*            63.94      61.05      1318.30   16.462 
1st Support       63.20      60.55      1312.00   16.340 
2nd Support       62.80      60.15      1305.00   16.260 
3rd Support       62.10      59.75      1300.00   16.160 
 

Intraday Brent (ICE): the RSI is bearish and calls for further decline. Suggest short positions below 64.50 with targets at 63.20 & 62.80 in extension. above 64.50 look for further upside with 65.05 & 65.55 as targets.

1 month trend: Bullish

Intraday Crude Oil (NYMEX): the RSI is mixed with a bearish bias. The upward potential is likely to be limited by the resistance at 61.55. Suggest short positions below 61.55 with targets at 60.55 & 60.15 in extension. above 61.55 look for further upside with 62.35 & 62.95 as targets.

1 month trend: Bullish

Intraday Gold (COMEX): the RSI is mixed with a bullish bias. Suggest long positions above 1312.00 with targets at 1322.50 & 1328.00 in extension. below 1312.00 look for further downside with 1305.00 & 1300.00 as targets.

1 month trend: Bullish

Intraday Silver (COMEX): the RSI is mixed with a bullish bias. Suggest long positions above 16.34 with targets at 16.56 & 16.61 in extension. below 16.34 look for further downside with 16.26 & 16.16 as targets.

1 month trend: Bearish

* 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

March 02, 2018 02:23 ET (07:23 GMT)

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