Monitor for a negative MACD crossover on the Bloomberg Commodity Index, says James Dima, technical analyst at Marex Spectron.
Commodities & Energy
The risk-on tone that has pervaded through financial markets over the past week is weighing on Gold, says David Sneddon and his team at Credit Suisse in London.
After breaking to 6-year highs, bullion’s long-term breakout remains strong and a minimum price objective of $1700 is now in place, according to Robin Griffiths and Ron William at RWA Market Advisory.
Copper is near to triggering a MACD buy signal, according to James Dima, technical analyst at Marex Spectron.
With gold having risen to six-year highs, Ron William, from RW Advisory, explains what is going on with the precious metal.
Following completion of a multi-year base in June, Gold is heading towards its measured target at $1700/05, according to David Sneddon and his team at Credit Suisse in London.
A pullback to 1366 for Gold could provide a good opportunity to go long, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
Natural Gas is heading towards a key level below which a bearish period may unfold, says James Dima, technical analyst at Marex Spectron.
The gold price has hit a 5 year high, in line with a bullish picture for commodities as a whole, according to George Davis at RBC Capital Markets.
Gold is set for a short-term rally although the longer-term outlook remains uncertain, according to Tony Sycamore at TechFX Traders.