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Commodities Technical Analysis, July 17th – July 21st, 2017 – FX Empire

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Gold prices posted a strong gain last week as economic data from the US raised concerns over the Fed’s projections for another rate hike this year.

Crude oil traders shrugged off potentially negative news to post a strong close for the week. In the week ahead, markets will continue to focus central banks rate  hike projections with the RBA meeting minutes, BoJ rate decision and ECB rate decision.

The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver and Copper as traded on spot market as of July 16th, 2017:

Crude Oil

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Neutral Neutral Long Neutral

Crude Oil Daily Chart - MACrude Oil Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

41.52 42.58 44.59 45.65 47.66 48.72 50.73

Crude Oil Daily Chart - Pivot PointsCrude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

43.64 44.36 44.81 45.18 45.54 46.71

Crude Oil Daily Chart - FibonacciCrude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Short Neutral Long Neutral

Gold Daily Chart - MAGold Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

1182.85 1193.73 1210.88 1221.76 1238.91 1249.79 1266.94

Gold Daily Chart - Pivot PointsGold Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

1204.61 1211.23 1215.32 1218.63 1221.93 1232.64

Gold Daily Chart - FibonacciGold Daily Chart – Fibonacci

Silver

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Short Neutral Long Neutral

Silver Daily Chart - MASilver Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

14.47 14.81 15.37 15.71 16.27 16.61 17.17

Silver Daily Chart - Pivot PointsSilver Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

15.16 15.37 15.50 15.61 15.72 16.06

Silver Daily Chart - FibonacciSilver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages

RSI

Parabolic SAR

CCI

Long Neutral Short Neutral

Copper Daily Chart - MACopper Daily Chart – MA

Floor Pivot Points

3rd Sup

2nd Sup

1st Sup

Pivot

1st Res

2nd Res

3rd Res

256.31 258.75 263.12 265.56 269.93 272.37 276.74

Copper Daily Chart - Pivot PointsCopper Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

261.20 262.81 263.80 264.61 265.41 268.01

Copper Daily Chart - FibonacciCopper Daily Chart – Fibonacci

This post was originally published by EarnForex