Weekly Analysis For Gold, Oil and Silver. | 30 9月 2016

Gold weekly review

Weekly review:

Since 11th July 2016, Gold market entered into a descending channel and is still pretty much with this channel. During the previous trading week ending 23rd September 2016, gold markets traded long for the better parts of the week but could not hit the upper resistive trend line forming top of the descending channel. Currently, gold is trading with declining upward momentum and will hardly cross the upper trend line. Instead of going short immediately, we choose to sit on sidelines and wait for a clear rebound from the upper trend line to go short with an ideal target along the lower trend line, Any clear breakout above this trend line may culminate into a possible bullish price movements towards $1367or even higher. Trade this commodity alongside Silver. These two metals have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

Trade Recommendations:

Remain flat for now and wait for a clear rebound from the upper trend line to go short with your target at $1309. Buy positions are only recommended above $1350 with an ideal target at $1357.

Oil weekly review

Weekly Analysis For Gold, Oil and Silver.

Weekly review:

Earlier the previous week ending 23rd Sept. 2016, Oil markets gapped up into our objective resistance level 46.03, following the rebound from this level, we expect a possible impulsive bearish movements towards the 38.2 Fib level and could go towards the 50.0 Fib level. The current downward rally is the continuation of the larger impulsive wave [C] and should close below the first motive wave [A], below 39.68 but not below the 61.8 Fib levell. During this week, key resistance levels are seen at 46.52, 47.46, 48.41, while key support levels are seen at 42.84, 43.72, 41.45 and a pivot level at 45.15

Trade Recommendations:

Expect a possible bearish price rally towards 38.2 Fib level and the next target at the 50.0 Fib level.

Silver weekly review

Weekly review

Instead of going short as previously forecasted, silver markets retraced to the upper side during the week ending 23rd Sept. 2016 but could not go beyond the weekly resistance zone 20.28-20.58. This commodity is still pretty much bullish on the weekly chart and could head further to the upper side, thus, its still very risky to sell this commodity at the moment, instead, we look for bullish trend continuation candles to go long with an ideal target at 20.58, any clear breakout above this target will push the price further to the upper side with the next ideal target at 21.63. For safety reasons, trade this commodity alongside gold, silver followed gold's price action during the previous trading week and will likely follow it even during this week.

Trade Recommendations:

Expect a possible bullish price rally towards 20.58 or even higher to 21.63

Facebook

Twitter

Bob Stan

同意该评论吗?同意不同意

交易员的评论:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.

© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.

Weekly Analysis For Gold, Oil and Silver. | 30 9月 2016

分享

Bob Stan

我们的奖项: