The index gapped downwards at market open, following a bearish breakout that occurred last week. On the 4 hour chart this can be seen quite clearly. Technical indicators including the MA and the RSI both indicate a selling sentiment.
Posted on: March 27, 2017
Posted on: March 21, 2017
As seen from the chart, the market is consolidating in a channel with mild bullish momentum. Today price opened above the pivot which is at 1.33050. There are two scenarios that may play out based on our technical analysis. (more…)
Following the positive momentum gained by the metal from last weeks Fed rate decision, price is still maintaining a position above the 50 hourly moving average. Today the market opened above the pivot price which is at 1229. Price is in a bullish channel and seems to be making a brief pull back towards support. The RSI is above the neutrality point and also broke above a descending trend line. (more…)
Posted on: March 20, 2017
The commodity had a negative day yesterday with reports of more than expected output coming out of Saudi Arabia and questions being raised on the effectiveness of the OPEC output ban. On the technical side a bounce now seems to be in effect. (more…)
Posted on: March 15, 2017
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