Our preference: SHORT positions below 107.5 with 104.3 & 103.55 in sight.
Alternative scenario: The upside breakout of 107.5 will open the way to 108.6 & 110.
Comment: capped by a negative trend line.
Monday, September 2, 2013
Crude Oil (Oct 13) intraday: the downside prevails.
Pivot: 107.50
Our preference: SHORT positions below 107.5 with 104.3 & 103.55 in sight.
Alternative scenario: The upside breakout of 107.5 will open the way to 108.6 & 110.
Comment: capped by a negative trend line.
Our preference: SHORT positions below 107.5 with 104.3 & 103.55 in sight.
Alternative scenario: The upside breakout of 107.5 will open the way to 108.6 & 110.
Comment: capped by a negative trend line.
SILVER (Spot) intraday: further upside.
Pivot: 23.65
Our preference: LONG positions above 23.65 with 24.4 & 24.7 as next targets.
Alternative scenario: The downside penetration of 23.65 will call for 23.1 & 22.9.
Comment: silver prices broke above the declining trend line. Look for a bounce towards 24.7.
Our preference: LONG positions above 23.65 with 24.4 & 24.7 as next targets.
Alternative scenario: The downside penetration of 23.65 will call for 23.1 & 22.9.
Comment: silver prices broke above the declining trend line. Look for a bounce towards 24.7.
Silver MT: watch 26.
Pivot: 22.
Our Preference: As long as 22.25 is support, look for rise towards 25.1 & 26.
Alternative scenario: A downside breakout of 22.25 would open the way towards 20.6.
Comment: the bullish cross between the 20-day and 50-day moving average is a positive signal and both moving averages are now ascending.
Our Preference: As long as 22.25 is support, look for rise towards 25.1 & 26.
Alternative scenario: A downside breakout of 22.25 would open the way towards 20.6.
Comment: the bullish cross between the 20-day and 50-day moving average is a positive signal and both moving averages are now ascending.
Gold MT: continuation of the rebound.
Pivot: 1348.
Our Preference: As long as 1348 is support, look for rise towards 1488 & 1522.
Alternative scenario: A downside breakout of 1348 would open the way towards 1273.
Comment: the bullish cross between the 20-day and 50-day moving average is a positive signal and both moving averages are now ascending.
Our Preference: As long as 1348 is support, look for rise towards 1488 & 1522.
Alternative scenario: A downside breakout of 1348 would open the way towards 1273.
Comment: the bullish cross between the 20-day and 50-day moving average is a positive signal and both moving averages are now ascending.
SILVER (Spot) intraday: rebound expected.
Pivot: 23.65
Our preference: LONG positions above 23.65 with 24.4 & 24.7 as next targets.
Alternative scenario: The downside penetration of 23.65 will call for a slide towards 23.1 & 22.9.
Comment: silver prices broke above the declining trend line. Look for a bounce towards 24.7.
Our preference: LONG positions above 23.65 with 24.4 & 24.7 as next targets.
Alternative scenario: The downside penetration of 23.65 will call for a slide towards 23.1 & 22.9.
Comment: silver prices broke above the declining trend line. Look for a bounce towards 24.7.
Crude Oil (Oct 13) intraday: the downside prevails.
Pivot: 107.50
Our preference: SHORT positions below 107.5 with 104.3 & 103.55 in sight.
Alternative scenario: The upside penetration of 107.5 will call for a rebound towards 108.6 & 110.
Comment: the RSI is capped by a bearish trend line.
Our preference: SHORT positions below 107.5 with 104.3 & 103.55 in sight.
Alternative scenario: The upside penetration of 107.5 will call for a rebound towards 108.6 & 110.
Comment: the RSI is capped by a bearish trend line.
GOLD (Spot) intraday: key ST resistance at 1398
Pivot: 1398.00
Our preference: SHORT positions below 1398 with 1374 & 1368 as next targets.
Alternative scenario: The upside penetration of 1398 will call for a rebound towards 1405 & 1411.
Comment: as long as 1398 is resistance, likely decline to 1374.
Our preference: SHORT positions below 1398 with 1374 & 1368 as next targets.
Alternative scenario: The upside penetration of 1398 will call for a rebound towards 1405 & 1411.
Comment: as long as 1398 is resistance, likely decline to 1374.
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