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European Commodities -- Technical Analysis

30 Jul 2018 6:01 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 0717 GMT+2   74.29      68.69      1232.70   15.493 
1 Week Trend      Bearish    Bearish    Bearish   Bearish 
1 Month Trend     Bearish    Bullish    Bearish   Bearish 
3rd Resistance    75.10      69.90      1240.00   15.700 
2nd Resistance    74.85      69.70      1236.50   15.610 
1st Resistance    74.50      69.25      1233.00   15.530 
Pivot*            74.28      68.91      1230.17   15.465 
1st Support       74.10      68.70      1226.50   15.390 
2nd Support       73.80      68.25      1224.00   15.340 
3rd Support       73.50      67.85      1221.00   15.260 
 

Intraday Brent (ICE): the RSI is capped by a bearish trend line. Suggest short positions below 74.50 with targets at 74.10 & 73.80 in extension. above 74.50 look for further upside with 74.85 & 75.10 as targets.

1 month trend: Bearish

Intraday Crude Oil (NYMEX): the RSI is capped by a bearish trend line. The declining 50-period moving average is acting as resistance. Suggest short positions below 69.25 with targets at 68.70 & 68.25 in extension. above 69.25 look for further upside with 69.70 & 69.90 as targets.

1 month trend: Bullish

Intraday Gold (COMEX): the RSI is bearish and calls for further downside. Suggest short positions below 1233.00 with targets at 1226.50 & 1224.00 in extension. above 1233.00 look for further upside with 1236.50 & 1240.00 as targets.

1 month trend: Bearish

Intraday Silver (COMEX): the RSI is bearish and calls for further downside. Suggest short positions below 15.53 with targets at 15.39 & 15.34 in extension. above 15.53 look for further upside with 15.61 & 15.70 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

July 30, 2018 02:01 ET (06:01 GMT)

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