Commodities Technical Analysis, August 21st – August 25th, 2017

Gold closed the previous week unchanged as investors speculate whether the Fed outlook is hawkish or dovish. Gold prices have been also affected by the geopolitical tension between North Korea sand the US and the terror attack in Spain. Gold trades around the $1291 and is expected to test $1300 as geopolitical tension continue to weigh on markets.

Oil prices closed the previous week in a mixed sentiment as concern of high US production clash with OPEC’s output cut.

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 August 20th, 2017:

Crude Oil

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Neutral	Long	Neutral

Crude Oil Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
44.69	45.65	47.21	48.17	49.73	50.69	52.25

Crude Oil Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
46.60	47.19	47.56	47.86	48.16	49.12

Crude Oil Daily Chart – Fibonacci

Gold

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Neutral	Long	Neutral

Gold Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1235.16	1251.11	1268.66	1284.61	1302.16	1318.11	1335.66

Gold Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
1267.07	1274.98	1279.87	1283.82	1287.77	1300.57

Gold Daily Chart – Fibonacci

Silver

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Neutral	Long	Neutral

Silver Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
15.83	16.19	16.59	16.95	17.35	17.71	18.11

Silver Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
16.54	16.72	16.83	16.92	17.01	17.30

Silver Daily Chart – Fibonacci

Copper

Indicators

Moving Averages	RSI	Parabolic SAR	CCI
Long	Neutral	Long	Neutral

Copper Daily Chart – Indicators

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
276.39	281.48	287.08	292.17	297.77	302.86	308.46

Copper Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
286.57	289.09	290.65	291.92	293.18	297.26

Copper Daily Chart – Fibonacci

This post was originally published by EarnForex

This article was originally posted on FX Empire

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