Jump to content

BEST COMMODITY TECHNICAL ANALYSIS BY CAPITAL STREET FX

Rate this topic


Recommended Posts

Weekly Commodity Analysis – Gold dips, Copper rallies, Oil soars, Gas falters.

 

Introduction

Gold (XAU/USD) closes the week with a slight dip, hovering just above $2,018, marking a 0.55% weekly loss. Key indicators show subdued buying momentum, reflecting a pause after December’s rally. Meanwhile, the USD’s recovery, driven by changing bets on the Federal Reserve, exerts downward pressure. Copper prices ease, but a strong week is expected amid China optimism. Oil settles at an eight-week high, fueled by robust U.S. economic growth and Chinese stimulus, while natural gas faces declines due to storage dynamics, production fluctuations, and lighter demand forecasts.

Markets In Focus Today – GOLD

XAU/USD Trades Mildly Lower And Closes A Losing Week After US PCE Figures.

The XAU/USD experiences a slight decrease, holding slightly above $2,018 with a minor pullback. Key indicators such as RSI and MACD demonstrate a subdued buying momentum, as bulls consolidate December’s rally. On Friday’s session, the XAU/USD was seen trading at $2,018, presenting a slight decline of 0.08% and closing a 0.55% weekly loss. After reaching a level of $2,135 in December, buyers have been largely taking a pause, suggesting a neutral to a bullish outlook on the daily chart. Despite some momentum observed in the four-hour chart, the indicators remain relatively weak. In addition, the USD recovery fueled by markets adjusting their bets on the Federal Reserve (Fed) due to the US economy showing resilience is pushing the metal lower.

Technical   Overview With Chart :

24-01-27_01-03-05_Gold-1024x342.png

Moving Averages :

Exponential :

  • MA 10 : 2024.17 | Negative Crossover | Bearish
  • MA 20 : 2028.83 | Negative Crossover | Bearish
  • MA 50 : 2019.76 | Negative Crossover | Bearish

Simple :

  • MA 10 : 2024.37 | Negative Crossover | Bearish
  • MA 20 : 2032.74 | Negative Crossover | Bearish
  • MA 50 : 2029.89 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.09 | Buy Zone | Bullish

Stochastic   Oscillator : 25.67 | Sell Zone | Negative

Resistance   And Support Levels :

  • R1 : 2127.21 R2 : 2168.19
  • S1 : 1994.53 S2 : 1953.54

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 2023.48 | Take Profit: 1984.79 | Stop Loss: 2049.27

COPPER

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Gold is steady, silver falters, oil surges, and gas puzzles despite drops.

 

Introduction

Gold prices maintain modest gains ahead of the Federal Reserve (Fed) meeting, finding support in Middle East tensions and declining US bond yields. Traders remain cautious amid geopolitical concerns, with a drone attack near the Syrian border impacting sentiment. Meanwhile, silver slips below $23.00, signaling a potential downtrend, while oil climbs on escalating Middle East tensions. Natural gas futures decline despite a significant storage drop, as weather forecasts suggest light national demand.

Markets In Focus Today – GOLD

Gold Price Sticks To Modest Gains Ahead Of Fed Meeting.

Gold price draws some support from escalating geopolitical tensions in the Middle East. Sliding US bond yields also benefit the XAU/USD, though the uptick lacks follow-through. Traders also seem reluctant ahead of the crucial two-day FOMC monetary policy meeting. Investors set off the critical week, including the US Federal Reserve (Fed) policy announcements, on a cautious footing after a Reuters report quoted US President Joe Biden and officials stating that three US service members were killed and dozens may be wounded after an unmanned aerial drone attack on US forces stationed in northeastern Jordan near the Syrian border. The US economic docket is relatively light on Monday, and hence, the geopolitical developments and the pre-Fed positioning could influence the Gold price action.

Technical   Overview With Chart :

24-01-29_00-19-28_Gold-1024x343.png

Moving Averages :

Exponential :

  • MA 10 : 2025.63 | Positive Crossover | Bullish
  • MA 20 : 2029.15 | Positive Crossover | Bullish
  • MA 50 : 2020.25 | Positive Crossover | Bullish

Simple :

  • MA 10 : 2022.17 | Positive Crossover | Bullish
  • MA 20 : 2031.21 | Positive Crossover | Bullish
  • MA 50 : 2030.98 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.10 | Neutral Zone | Neutral

Stochastic   Oscillator : 36.02 | Neutral Zone | Neutral

Resistance   And Support Levels :

  • R1 : 2127.21 R2 : 2168.19
  • S1 : 1994.53 S2 : 1953.54

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 2032.20 | Take Profit: 2168.19 | Stop Loss: 1887.65

SILVER

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Oil spikes, gas drops 8%, gold gains, copper challenges.

 

Introduction

WTI crude oil sees a slight uptick amid rising geopolitical risks in the Middle East, although concerns over demand in China may limit gains ahead of the FOMC. Traders eye the API report on US stockpiles for short-term opportunities. Meanwhile, natural gas experiences its largest daily decline in nearly two weeks due to an outage at Freeport LNG and milder weather forecasts. Gold prices rise as US bond yields fall, fueled by escalating tensions in the Middle East. Investors await cues from the upcoming FOMC meeting. Copper futures, previously boosted by China’s monetary stimulus, face pressure amid doubts about its impact on economic challenges in the country.

 

Markets In Focus Today – CRUDE OIL

WTI Ticks Higher Amid Geopolitical Risks, China Demand Concerns Cap The Upside.

WTI attracts some buyers on Tuesday amid fears about supply disruptions in the Middle East. Demand concerns in China could act as a headwind for the commodity ahead of the FOMC. Traders now look to the API report on US stockpiles for short-term opportunities on Tuesday. West Texas Intermediate (WTI) US Crude Oil prices ticked higher during the Asian session on Tuesday and for now, seem to have stalled the previous day’s rejection slide from the 100-day Simple Moving Average (SMA) or a nearly two-month peak. A further escalation of geopolitical tensions in the Middle East continues to fuel supply concerns and turns out to be a key factor acting as a tailwind for the black liquid.

 

Technical   Overview With Chart :

24-01-30_01-10-06_Crude-Oil-Light-Sweet-

Moving Averages :

Exponential :

  • MA 10 : 75.64 | Positive Crossover | Bullish
  • MA 20 : 74.61 | Positive Crossover | Bullish
  • MA 50 : 74.93 | Positive Crossover | Bullish

Simple :

  • MA 10 : 75.38 | Positive Crossover | Bullish
  • MA 20 : 73.87 | Positive Crossover | Bullish
  • MA 50 : 73.60 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.37 | Buy Zone | Bullish

 

Stochastic   Oscillator : 81.10 | Buy Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 75.38 R2 : 77.52
  • S1 : 68.47 S2 : 66.33

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 75.64 | Take Profit: 79.00 | Stop Loss: 73.58

 

NATURAL GAS

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Deciphering global markets amid tensions and uncertainties.

 

Introduction

Oil prices decline on weak China data, impacting demand sentiment. Despite this, they are poised for their first monthly gain since September due to escalating Middle East conflicts causing supply concerns. Meanwhile, positive IMF forecasts boost crude oil prospects. In other markets, corn futures fall on weak demand outlook, and gold and silver prices respond to geopolitical tensions and await the US Federal Reserve’s interest rate decision for further direction.

 

Markets In Focus Today – BRENT CRUDE OIL

Oil Falls On Weak China Data; Set For First Monthly Gain Since Sept.

Oil fell on Wednesday as lackluster economic data in China, the world’s biggest crude importer, weighed on demand sentiment, but prices were set for their first monthly gain since September as broadening Middle East conflicts raised supply concerns. Crude oil prices may experience a positive impact following the recent update on global economic growth by the International Monetary Fund (IMF). The IMF has revised its forecast, indicating expectations of stronger growth, particularly in the economies of the United States and China.

 

Technical   Overview With Chart :

24-01-31_00-21-32_Brent-Crude-Oil-Future

Moving Averages :

Exponential :

  • MA 10 : 81.29 | Positive Crossover | Bullish
  • MA 20 : 80.19 | Positive Crossover | Bullish
  • MA 50 : 80.11 | Positive Crossover | Bullish

Simple :

  • MA 10 : 81.07 | Positive Crossover | Bullish
  • MA 20 : 79.42 | Positive Crossover | Bullish
  • MA 50 : 78.79 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 59.63 | Buy Zone | Bullish

 

Stochastic   Oscillator : 78.74 | Buy Zone | Neutral

 

Resistance   And Support Levels :

  • R1 : 80.60 R2 : 82.82
  • S1 : 73.40 S2 : 71.18

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 81.15 | Take Profit: 83.99 | Stop Loss: 79.50

 

CORN

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

 

 

Link to comment
Share on other sites

Daily Commodity Analysis – Explore gold defiance, copper’s challenge, oil rally, and gas amid the turmoil.

 

Introduction

Gold prices defy a Fed stance on prolonged higher interest rates, gaining ground amid safe-haven demand fueled by Middle East tensions. The precious metal’s ascent is tempered by a resurgent dollar. In contrast, copper retreated from a one-month peak, impacted by mixed signals from China’s economic outlook. Oil prices rise as the U.S. Federal Reserve hints at potential rate cuts and China unveils measures to support its property market. Natural gas futures see modest gains despite bearish weather forecasts and lower industrial demand attributed to a Freeport LNG outage.

 

Markets In Focus Today – GOLD

Gold Prices Rise Even As Fed Shoots Down Early Rate-Cut Hopes.

Gold prices rose on Thursday and were undeterred by the Federal Reserve stating that it will likely keep interest rates higher for longer, while safe-haven buying amid an ongoing conflict in the Middle East also aided the yellow metal. The Fed’s comments spurred a sharp reversal in risk-driven markets, particularly stocks, on Wednesday. This in turn fueled increased safe-haven demand for gold. The yellow metal was also aided by increased demand as a conflict between U.S.-led forces and the Yemen-based Houthi Group worsened. Further gains in the yellow metal were held back by a sharp rebound in the dollar, which traded close to seven-week highs.

 

Technical   Overview With Chart :

24-01-31_23-25-40_Gold-1024x343.png

Moving Averages :

Exponential :

  • MA 10 : 2032.12 | Positive Crossover | Bullish
  • MA 20 : 2031.90 | Positive Crossover | Bullish
  • MA 50 : 2022.44 | Positive Crossover | Bullish

Simple :

  • MA 10 : 2028.32 | Positive Crossover | Bullish
  • MA 20 : 2029.97 | Positive Crossover | Bullish
  • MA 50 : 2033.75 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.73 | Buy Zone | Bullish

 

Stochastic   Oscillator : 63.81 | Buy Zone | Neutral

 

Resistance   And Support Levels :

  • R1 : 2069.38 R2 : 2087.55
  • S1 : 2010.57 S2 : 1992.40

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 2037.55 | Take Profit: 2057.85 | Stop Loss: 2024.77

 

COPPER

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Gas, Corn Soar, Oil Rises, Gold Steady.

 

Introduction

U.S. natural gas futures are on the rise as the market anticipates the Energy Information Administration’s (EIA) storage report, expected to reveal a significant draw. Projections suggest a draw of approximately -200 to -203 billion cubic feet (Bcf), surpassing the five-year average. Mild weather conditions contribute to lower gas demand, creating volatility in the market. In other commodities, corn futures see midweek gains, while oil prices rise after OPEC+ maintains current output policies. Gold prices remain steady at $2,050, benefiting from a weakened dollar ahead of the nonfarm payrolls data release.

 

Markets In Focus Today – NATURAL GAS

Natural Gas Futures Edge Up Ahead Of EIA Report.

EIA report likely shows natural gas storage draw amid low demand and production downturn due to Freeport LNG issues. EIA report to reveal significant natural gas storage draw. Mild U.S. weather patterns lead to low gas demand. U.S. natural gas futures are experiencing an uptick as the market braces for the Energy Information Administration’s (EIA) weekly storage report. Expected volatility surrounds the report, with predictions pointing to a significant draw of around -200 to -203 billion cubic feet (Bcf), exceeding the five-year average of -185 Bcf. Contributing factors include varied temperatures across the U.S., with warmer conditions in the west and east and cooler temperatures from the Plains to Texas.

 

Technical   Overview With Chart :

24-02-02_00-36-40_Natural-Gas-1024x339.p

Moving Averages :

Exponential :

  • MA 10 : 2.36 | Negative Crossover | Bearish
  • MA 20 : 2.47 | Negative Crossover | Bearish
  • MA 50 : 2.57 | Negative Crossover | Bearish

Simple :

  • MA 10 : 2.35 | Negative Crossover | Bearish
  • MA 20 : 2.60 | Negative Crossover | Bearish
  • MA 50 : 2.53 | Negative Crossover | Bearish

RSI (Relative Strength Index): 36.41 | Sell Zone | Bearish

 

Stochastic   Oscillator : 5.74 | Sell Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 3.07 R2 : 3.33
  • S1 : 2.20 S2 : 1.93

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 2.20 | Take Profit: 2.01 | Stop Loss: 2.34

 

CORN

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Weekly Commodity Analysis – Oil, gas, gold turmoil, silver rises.

 

Introduction

Oil prices face a weekly decline, influenced by hopes for a Gaza ceasefire and a stronger dollar, eroding the supply risks premium. Natural gas experiences a decline due to a storage draw falling short of demand, impacted by mild weather predictions. Gold slumps below $2,040 as upbeat US Nonfarm Payrolls lift Treasury yields, affecting XAU/USD. Meanwhile, silver rose over 1% to $23.17, supported by central bank decisions and declining global bond yields.

 

Markets In Focus Today – BRENT CRUDE OIL

Oil Prices In Weekly Slump As Gaza Ceasefire Hopes, Stronger Dollar Bite.

Oil prices fell Friday, to end the week deep in the red as growing optimism over an extended ceasefire in the Israel-Hamas war cooled the supply risks premium baked into prices. Faltering growth in China and the possibility of some easing of tensions in the Middle East also reduced prices. High-interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the eurozone appear to be here to stay in the near term. A stronger dollar makes oil, priced in the U.S. dollars, more expensive and less attractive to foreign buyers.

 

Technical   Overview With Chart :

24-02-03_01-01-27_Brent-Crude-Oil-Future

Moving Averages :

Exponential :

  • MA 10 : 80.00 | Negative Crossover | Bearish
  • MA 20 : 79.67 | Negative Crossover | Bearish
  • MA 50 : 79.89 | Negative Crossover | Bearish

Simple :

  • MA 10 : 80.76 | Negative Crossover | Bearish
  • MA 20 : 79.32 | Negative Crossover | Bearish
  • MA 50 : 78.60 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.65 | Neutral Zone | Neutral

 

Stochastic   Oscillator : 31.58 | Sell Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 83.35 R2 : 85.56
  • S1 : 76.22 S2 : 74.01

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 78.31 | Take Profit: 75.73 | Stop Loss: 80.06

 

NATURAL GAS

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Oil surges, gas constraints, gold slides, copper boosted.

 

Introduction

Oil prices rose on Monday as the US plans additional strikes in the Middle East, while Ukrainian drones hit Russia’s largest refinery. The rebound follows last week’s 7% drop, driven by stronger US jobs data and progress in Israel-Hamas ceasefire talks. Concerns about the Middle East conflict persist, impacting oil markets. In the natural gas sector, withdrawals from storage fell short of demand, with expectations of a reversal due to mild weather. Gold prices slide as the dollar surges, fueled by reduced rate-cut expectations. Copper sees a slight rise amid supply concerns in Chile, the world’s top copper producer.

 

Markets In Focus Today – BRENT CRUDE OIL

Oil Inches Up As US Plans More Strikes In Mideast, Ukraine Hits Russian Refinery.

Oil prices nudged higher on Monday, recovering from sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and as Ukrainian drones struck southern Russia’s largest refinery. Both benchmarks ended last week down about 7%. They fell 2% on Friday after stronger-than-expected U.S. jobs data suggested interest rate cuts could be further out than expected and on progress in ceasefire negotiations between Israel and Hamas. Investors remained wary of any escalation in the Middle East conflict after the U.S. signaled further strikes on Iran-backed groups in the Middle East in response to a deadly attack on U.S. troops in Jordan.

 

Technical   Overview With Chart :

24-02-05_01-30-59_Brent-Crude-Oil-Future

Moving Averages :

Exponential :

  • MA 10 : 79.49 | Negative Crossover | Bearish
  • MA 20 : 79.43 | Negative Crossover | Bearish
  • MA 50 : 79.79 | Negative Crossover | Bearish

Simple :

  • MA 10 : 80.49 | Negative Crossover | Bearish
  • MA 20 : 79.37 | Negative Crossover | Bearish
  • MA 50 : 78.52 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.02 | Neutral Zone | Neutral

 

Stochastic   Oscillator : 17.15 | Sell Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 83.36 R2 : 85.57
  • S1 : 76.22 S2 : 74.02

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 76.99 | Take Profit: 74.82 | Stop Loss: 78.59

 

NATURAL GAS

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Crude up, Silver down, Gold eyes $2,000.

 

Introduction

WTI crude oil prices hover around $72.90 amid ongoing tensions in the Middle East. The US Dollar’s slight decline supports the uptick, but concerns about global supply disruptions due to Middle East tensions and Russia’s actions in Ukraine may limit the downside. Gold steadies near $2,000 as the dollar rally pauses, with the near-term outlook influenced by worries about prolonged US interest rates. Corn futures show mixed midday movement, rebounding from earlier weakness. Meanwhile, silver (XAG/USD) hit a two-week low at $22.25, dropping over 1.40%, impacted by rising US Treasury yields and Powell’s hawkish stance on interest rates.

 

Markets In Focus Today – CRUDE OIL

WTI Recovers Some Lost Ground Near $73.00 Amid Ongoing Middle East Tension.

WTI prices attract some buyers near $72.90 amid the ongoing Middle East tension. The upbeat US economic data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer. The US launched retaliatory airstrikes on Friday against Iran’s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.90 on Tuesday. WTI prices edge higher on the modest decline of US dollars (USD). The downside of WTI prices might be capped by concerns that tensions in the Middle East and Russia’s ongoing invasion of Ukraine could curb global supplies.

 

Technical   Overview With Chart :

24-02-05_23-47-52_Crude-Oil-Light-Sweet-

Moving Averages :

Exponential :

  • MA 10 : 74.2361 | Negative Crossover | Bearish
  • MA 20 : 74.2010 | Negative Crossover | Bearish
  • MA 50 : 74.7017 | Negative Crossover | Bearish

Simple :

  • MA 10 : 75.3019 | Negative Crossover | Bearish
  • MA 20 : 74.1892 | Negative Crossover | Bearish
  • MA 50 : 73.3012 | Negative Crossover | Bearish

RSI (Relative Strength Index): 45.8300 | Neutral Zone | Neutral

 

Stochastic   Oscillator : 22.3991 | Sell Zone | Positive

 

Resistance   And Support Levels :

  • R1 : 78.6054 R2 : 80.9659
  • S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 73.59 | Take Profit: 71.40 | Stop Loss: 75.09

 

GOLD

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – gold, oil, investment trends.

 

Introduction

Gold prices remain range-bound amid persistent fears of a rate cut. Despite a slight relief as the dollar retreats from three-month highs, uncertainties loom due to diminished expectations of early U.S. interest rate adjustments. Bullion faces pressure from bets on prolonged higher interest rates, influenced by robust U.S. economic data and hawkish Federal Reserve comments. In the commodities market, copper edges lower ahead of crucial cues from China, impacted by concerns over slowing demand. Oil prices rise for the third consecutive day on lower-than-expected U.S. crude stockpiles, contributing to a balanced 2024 outlook. Natural gas futures slide as warmer weather outweighs potential mid-month cold.

 

Markets In Focus Today – GOLD

Gold Prices Range Bound As Rate Cut Fears Persist.

Gold prices moved little on Wednesday but saw some relief as the dollar eased from three-month highs, although waning bets on early U.S. interest rate cuts kept the outlook for the yellow metal uncertain. Bullion prices were battered by bets on higher-for-longer interest rates, especially following a slew of strong U.S. economic readings and hawkish comments from Federal Reserve officials. The dollar and U.S. Treasury yields had surged on these signals. While the dollar fell slightly from three-month highs on Wednesday, the greenback was still sitting on strong gains so far in 2024.

 

Technical   Overview With Chart :

24-02-07_01-11-35_Gold-1024x343.png

Moving Averages :

Exponential :

  • MA 10 : 2033.6296 | Negative Crossover | Bearish
  • MA 20 : 2033.0816 | Negative Crossover | Bearish
  • MA 50 : 2024.4301 | Positive Crossover | Bullish

Simple :

  • MA 10 : 2033.5021 | Negative Crossover | Bearish
  • MA 20 : 2030.8546 | Positive Crossover | Bullish
  • MA 50 : 2034.6432 | Negative Crossover | Bearish

RSI (Relative Strength Index): 50.1219 | Buy Zone | Bullish

 

Stochastic   Oscillator : 42.6026 | Neutral Zone | Positive

 

Resistance   And Support Levels :

  • R1 : 2069.3814 R2 : 2087.5486
  • S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 2036.80 | Take Profit: 2057.10 | Stop Loss: 2024.01

 

COPPER

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – WTI up, corn down, Fed awaits.

 

Introduction

WTI oil price hovers around $74.20 per barrel, maintaining a positive bias after Israel rejects a ceasefire offer from Hamas. Crude oil prices are expected to continue their winning streak, supported by geopolitical developments. Meanwhile, gold struggles to gain traction amid uncertainty about the Federal Reserve’s rate cut path, keeping traders cautious. Silver faces renewed selling pressure, hitting a two-week low and remaining vulnerable to further declines.

 

Markets In Focus Today – CRUDE OIL

WTI Hovers Around $74.20 With A Positive Bias After Israel Rejected Hamas’s Ceasefire Offer.

WTI price could gain ground as Israel has dismissed Hamas’ offer for a ceasefire.EIA Crude Oil stockpiles came in at 5.521 million barrels against the expected 1.895 million barrels. The largest US oilfield, the Permian shale basin, is projected to experience its slowest annual growth since 2021. West Texas Intermediate (WTI) oil price hovers around $74.20 per barrel during the Asian session on Thursday. Crude oil prices are expected to continue their winning streak for the fourth consecutive session. WTI price receives upward support as an obstacle emerges on a ceasefire in the Israel-Gaza conflict.

 

Technical   Overview With Chart :

24-02-07_21-01-36_Crude-Oil-Light-Sweet-

Moving Averages :

Exponential :

  • MA 10 : 74.2378 | Negative Crossover | Bearish
  • MA 20 : 74.2128 | Negative Crossover | Bearish
  • MA 50 : 74.6695 | Negative Crossover | Bearish

Simple :

  • MA 10 : 74.9197 | Negative Crossover | Bearish
  • MA 20 : 74.4121 | Negative Crossover | Bearish
  • MA 50 : 73.2419 | Positive Crossover | Bullish

RSI (Relative Strength Index): 49.7858 | Buy Zone | Bullish

 

Stochastic   Oscillator : 31.3964 | Sell Zone | Positive

 

Resistance   And Support Levels :

  • R1 : 78.6054 R2 : 80.9659
  • S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 74.53 | Take Profit: 72.35 | Stop Loss: 76.10

 

CORN

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Oil rises on geopolitical tensions, gas hits low.

 

Introduction

Oil remains stable with prospects of weekly gains after Israel rejects a ceasefire offer from Hamas, sustaining tensions in the Middle East. Both Brent and WTI experienced a 3% surge as Israeli forces continued operations. Due to bearish storage reports and unfavorable weather forecasts, natural gas futures hit a more than three-year low. Gold struggles amid uncertainty over aggressive Fed rate cuts, while silver shows recovery but faces technical challenges for sustained gains.

 

Markets In Focus Today – BRENT CRUDE OIL

Oil Heads For Weekly Gains After Israel Rejects Ceasefire Offer.

Oil prices were little changed on Friday, staying on track for weekly gains, with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas. Both benchmarks rose about 3% in the previous session as Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave The tensions have kept oil prices elevated, with Brent and WTI both set to gain more than 5% for the week.

 

Technical   Overview With Chart :

24-02-08_22-21-26_Brent-Crude-Oil-Future

Moving Averages :

Exponential :

  • MA 10 : 80.1468 | Positive Crossover | Bullish
  • MA 20 : 79.8148 | Positive Crossover | Bullish
  • MA 50 : 79.8974 | Positive Crossover | Bullish

Simple :

  • MA 10 : 80.1115 | Positive Crossover | Bullish
  • MA 20 : 79.9283 | Positive Crossover | Bullish
  • MA 50 : 78.4612 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.5250 | Buy Zone | Neutral

 

Stochastic   Oscillator : 56.4783 | Neutral Zone | Neutral

 

Resistance   And Support Levels :

  • R1 : 83.3603 R2 : 85.5650
  • S1 : 76.2230 S2 : 74.0183

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 80.89 | Take Profit: 83.41 | Stop Loss: 79.57

 

NATURAL GAS

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Weekly Commodity Analysis – Gold falters, silver rises, oil soars.

 

Introduction

XAU/USD faces a 0.40% dip to $2,025, signaling a bearish sentiment. Despite soft CPI revisions, gold struggles for traction. Daily chart indicators show a bearish bias, while the four-hour chart suggests a consolidation of losses. Attention turns to next week’s US CPI figures for market direction. Silver (XAG/USD) sees a modest 0.15% gain, trading at $22.60, influenced by a weaker USD. Silver’s potential move toward $23.00 is hinted at, with indications of bottoming out between $22.15-$22.50. Meanwhile, oil prices rise 6% weekly due to Middle East concerns, while natural gas faces a bearish outlook amid ample supply and low demand.

 

Markets In Focus Today – GOLD

XAU/USD Declines As Bears Gather Traction Ahead Of US CPI.

The XAU/USD retreated to $2,025 on Friday, registering losses of 0.40% on the day. Despite soft CPI revisions, the metal failed to gather traction. Daily chart indicators hint at a bearish bias, with RSI’s negative slope and MACD’s rising red bars suggesting selling momentum. In the four-hour chart, indicators appear flat hinting at a consolidation of losses. In Friday’s session, the XAU/USD was observed at a trading level of $2,025, marking a dip of 0.40%. Focus is set on next week’s Consumer Price Index (CPI) figures from January after the US downward revised the December figures, to continue placing their bets on the next Federal Reserve (Fed) decisions.

 

Technical   Overview With Chart :

24-02-09_22-30-33_Gold-1024x342.png

Moving Averages :

Exponential :

  • MA 10 : 2032.3019 | Negative Crossover | Bearish
  • MA 20 : 2032.5195 | Negative Crossover | Bearish
  • MA 50 : 2024.8748 | Negative Crossover | Bearish

Simple :

  • MA 10 : 2035.7342 | Negative Crossover | Bearish
  • MA 20 : 2030.0041 | Negative Crossover | Bearish
  • MA 50 : 2033.6970 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.9072 | Buy Zone | Bullish

 

Stochastic   Oscillator : 38.4197 | Sell Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 2069.3814 R2 : 2087.5486
  • S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Stop Sell: 2022.31 | Take Profit: 1987.13 | Stop Loss: 2043.41

 

SILVER

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Gold, Copper, Oil, Natural Gas.

 

Introduction

Gold prices stagnate around $2,020, grappling with conflicting signals amid hawkish Fed sentiments and positive market sentiment. The USD’s defensive stance, driven by Fed rate cut uncertainty, offers support. Traders eagerly await Tuesday’s US CPI data for market direction. Meanwhile, Copper faces a downturn on the discovery of a sizable deposit in Zambia, signaling potential oversupply. Oil prices dip as Israel concludes Gaza strikes, alleviating Middle East supply concerns. Natural gas experiences a three-year low due to increased production and policy uncertainties, reflecting a bearish market sentiment.

 

Markets In Focus Today – GOLD

Gold Price Flat-Lines Amid Mixed Cues, Look To US CPI On Tuesday For Fresh Impetus.

Gold price struggles to lure buyers amid hawkish Fed expectations and the upbeat market mood. The Fed rate cut uncertainty keeps the USD bulls on the defensive and lends support to the metal. Traders await Tuesday’s US consumer inflation figures before placing directional bets. Gold price (XAU/USD) kicks off the new week on a subdued note and oscillates in a narrow trading range, just above the $2,020 level during the Asian session. The recent surge in the US Treasury bond yields, bolstered by the upbeat US macro data and hawkish rhetoric from several Federal Reserve (Fed) officials, along with a generally positive risk tone, act as a headwind for the safe-haven precious metal. The downside, however, remains cushioned in the wake of a softer US Dollar (USD), which tends to benefit the USD-denominated commodity.

 

Technical   Overview With Chart :

24-02-11_21-08-43_Gold-1024x342.png

Moving Averages :

Exponential :

  • MA 10 : 2030.6821 | Negative Crossover | Bearish
  • MA 20 : 2031.6503 | Negative Crossover | Bearish
  • MA 50 : 2024.8167 | Negative Crossover | Bearish

Simple :

  • MA 10 : 2034.7780 | Negative Crossover | Bearish
  • MA 20 : 2028.4637 | Negative Crossover | Bearish
  • MA 50 : 2033.5879 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.5022 | Buy Zone | Bullish

 

Stochastic   Oscillator : 31.6536 | Sell Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 2069.3814 R2 : 2087.5486
  • S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Stop Sell: 2022.73 | Take Profit: 2001.46 | Stop Loss: 2036.41

 

COPPER

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – Gold down, Copper crisis, Oil up, Gas struggles.

 

Introduction

“As Gold struggles near a two-month low, the stronger-than-expected US CPI data diminishes hopes of a Fed rate cut, keeping the precious metal below $2,000. Meanwhile, copper faces pressure from a stronger dollar and concerns over slowing economic growth, exacerbated by a massive deposit discovery in Zambia. Oil prices rise on positive demand forecasts, while natural gas languishes due to warmer weather predictions reducing heating demand.”

 

Markets In Focus Today – Gold

Gold Price Struggles Near Two-Month Low As Hot US CPI Temper Fed Rate Cut Bets.

Gold price hits a fresh two-month low amid bets that the Fed will keep rates higher for longer. The expectations were reaffirmed by the stronger-than-expected US CPI released on Tuesday. A softer risk tone lends support to the safe-haven XAU/USD and helps limit any further losses. Gold price (XAU/USD) continues with its struggle to attract buyers and languishes below the $2,000 psychological mark, or a two-month low through the early European session on Monday. The stronger-than-expected US consumer inflation report released on Tuesday reaffirmed market expectations that the Federal Reserve (Fed) will keep interest rates higher for longer. This, in turn, is seen undermining the non-yielding yellow metal, though a combination of factors lends some support and helps limit the downside.

 

Technical   Overview With Chart :

24-02-14_00-47-41_Gold-1024x342.png

Moving Averages :

Exponential :

  • MA 10 : 2017.0634 | Negative Crossover | Bearish
  • MA 20 : 2023.9850 | Negative Crossover | Bearish
  • MA 50 : 2022.0886 | Negative Crossover | Bearish

Simple :

  • MA 10 : 2025.0466 | Negative Crossover | Bearish
  • MA 20 : 2025.6890 | Negative Crossover | Bearish
  • MA 50 : 2032.2712 | Negative Crossover | Bearish

RSI (Relative Strength Index): 35.7932 | Sell Zone | Bearish

 

Stochastic   Oscillator : 8.4879 | Sell Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 2069.3797 R2 : 2087.5470
  • S1 : 2010.5670 S2 : 1992.3997

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 1994.62 | Take Profit: 1972.58 | Stop Loss: 2009.82

 

COPPER

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX

Link to comment
Share on other sites

Daily Commodity Analysis – oil dives, corn lows, gold reacts to bonds.

 

Introduction

WTI faces renewed selling pressure, hovering around $76.00 amid a second consecutive day of retreats. Despite geopolitical risks, a surge in US inventories weighs on oil prices, while OPEC’s positive global demand outlook fails to provide support. In the corn market, futures hit new lows, influenced by a red trading session and ethanol-related data. Gold prices tick higher due to sliding US bond yields and geopolitical tensions, while Silver stabilizes above $22, awaiting guidance from US Retail Sales data. Federal Reserve comments suggest a hesitant stance on rate cuts, impacting precious metals.

 

Markets In Focus Today – Crude OIL

WTI Retreats Further From The Monthly Peak And Seems Vulnerable Near The $76.00 Mark.

WTI remains under some selling pressure for the second straight day on Thursday. A spike in US inventories overshadows geopolitical risks and weighs on Oil prices. The OPEC sees a rise in global demand in 2024, and 2025, albeit fails to lend support. West Texas Intermediate (WTI) US Crude Oil prices extend the overnight pullback from the vicinity of mid-$78.00s, or a fresh monthly peak and drift lower for the second successive day on Thursday. The commodity hovers around the $76.00 mark during the Asian session and remains well within the striking distance of the weekly low touched on Monday.

 

Technical   Overview With Chart :

24-02-15_02-00-22_Crude-Oil-Light-Sweet-

Moving Averages :

Exponential :

  • MA 10 : 75.9666 | Positive Crossover | Bullish
  • MA 20 : 75.3486 | Positive Crossover | Bullish
  • MA 50 : 75.1257 | Positive Crossover | Bullish

Simple :

  • MA 10 : 75.2912 | Positive Crossover | Bullish
  • MA 20 : 75.5299 | Positive Crossover | Bullish
  • MA 50 : 73.5075 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.0784 | Buy Zone | Bullish

 

Stochastic   Oscillator : 68.9884 | Buy Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 78.6054 R2 : 80.9659
  • S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy : 75.62 | Take Profit: 78.29 | Stop Loss: 74.13

 

CORN

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX 

Link to comment
Share on other sites

Daily Commodity Analysis – Energy sinks, gold struggles, China waits.

 

Introduction

Oil prices drop as concerns over sticky US inflation heighten demand worries. Reports of higher producer prices in the US, the largest oil consumer, raise concerns about limited fuel consumption growth amid inflation and higher interest rates. Meanwhile, US natural gas prices hit a three-decade low due to the warmest winter on record, impacting demand. Gold prices rise but remain range-bound amid fears of prolonged US rate hikes. Copper prices slip after a strong prior week, with attention on China’s economic cues for the industrial metal.

 

Markets In Focus Today – Brent Crude Oil

Oil Drops As Sticky US Inflation Heightens Demand Concerns.

Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. Both Brent and WTI contracts had settled higher on Friday, as geopolitical tensions in the Middle East offset slowing demand forecasts from the International Energy Agency. Markets are also yet to see the direction of demand from China after it returns from a week-long Lunar New Year holiday, while Presidents’ Day in the United States is set to keep trade relatively muted.

 

Technical   Overview With Chart :

24-02-19_01-34-22_Brent-Crude-Oil-Future

Moving Averages :

Exponential :

  • MA 10 : 81.8966 | Positive Crossover | Bullish
  • MA 20 : 81.0715 | Positive Crossover | Bullish
  • MA 50 : 80.4680 | Positive Crossover | Bullish

Simple :

  • MA 10 : 81.6525 | Positive Crossover | Bullish
  • MA 20 : 81.1121 | Positive Crossover | Bullish
  • MA 50 : 79.1014 | Positive Crossover | Bullish

RSI (Relative Strength Index): 58.8856 | Buy Zone | Bullish

 

Stochastic   Oscillator : 88.5776 | Buy Zone | Neutral

 

Resistance   And Support Levels :

  • R1 : 83.3603 R2 : 85.5650
  • S1 : 76.2230 S2 : 74.0183

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 81.67 | Take Profit: 83.49 | Stop Loss: 80.73

 

NATURAL GAS

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX 

Link to comment
Share on other sites

Daily Commodity Analysis – Oil is up gold is over $2,020, and silver is steady.

 

Introduction

WTI crude oil rises to approximately $78.30 amidst Houthi Group strikes on Red Sea shipping vessels, elevating concerns about Middle East supply disruption. Meanwhile, Natural Gas faces a three-year low due to soft European demand. Gold gains momentum near $2,020 amid escalating Middle East tensions and economic uncertainties, with FOMC Minutes in focus. Silver consolidates above $22.45, showing a potential mean reversion towards $23.90 and $25.00.

 

Markets In Focus Today – CRUDE OIL

WTI Moves Higher To Around $78.30 As The Houthi Group Strikes On Shipping Vessels In The Red Sea.

WTI price edges higher on escalated threat over supply disruption from the Middle East. Iran-led Houthis targeted Belize-flagged, British-registered cargo vessel Rubymar. European Union has deployed warships and early warning systems to safeguard shipping lanes in the Red Sea. Saudi Aramco is considering issuing a bond of up to maturity of 50 years in 2024. West Texas Intermediate (WTI) oil price retraces its recent losses registered on Monday. WTI price trades higher around $78.30 per barrel during the Asian trading hours on Tuesday. The escalated threat of the oil supply disruption from the Middle East is supporting the prices of Crude oil.

 

Technical   Overview With Chart :

24-02-20_00-25-18_Crude-Oil-Light-Sweet-

Moving Averages :

Exponential :

  • MA 10 : 77.4693 | Positive Crossover | Bullish
  • MA 20 : 76.4050 | Positive Crossover | Bullish
  • MA 50 : 75.6216 | Positive Crossover | Bullish

Simple :

  • MA 10 : 77.3102 | Positive Crossover | Bullish
  • MA 20 : 76.3290 | Positive Crossover | Bullish
  • MA 50 : 74.0781 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.0690 | Buy Zone | Bullish

 

Stochastic   Oscillator : 92.0512 | Buy Zone | Negative

 

Resistance   And Support Levels :

  • R1 : 78.6054 R2 : 80.9659
  • S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 77.00 | Take Profit: 79.60 | Stop Loss: 75.50

 

NATURAL GAS

 

READ THE FULL REPORT VISIT US - CAPITAL STREET FX 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • 👍 Join TopGold.Forum Now

    Welcome to the Most Active & Trusted Global Money-Making Community

    Join over 25,000 members and 700 online businesses on their journey to success. 💰🍾👍

    👩 Want to make money online? 
    💼 Represent a company? 

⤴️-Paid Ad- TGF approve this banner. Add your banner here.🔥

×
×
  • Create New...