A potential buying opportunity may soon arise for gold, according to Ron William of RW Advisory.
Commodities & Energy
Recent months have seen a sharp fall in Light Crude prices, but long-term charts suggest the bears may have run their course and a rebound may unfold, according to Karman Sheikh, Technical Strategist at Informa Global Markets.
Gold is approaching a key event – the Swiss referendum of 30 November. George Davis, Chief FIC Technical Analyst at RBC Capital Markets, looks at the possible outcomes.
No OPEC meeting has ever marked a major low in crude oil prices, says Walter Zimmermann, Senior Technical Analyst at United-ICAP, who thinks that crude can continue to fall for some weeks or months to come.
Walter Zimmermann, Senior Technical Analyst at United-ICAP, gives his weekly technical assessment for the major commodity markets plus also the USD, EUR, S&P and the Ten Year T-Note.
The overall trend for crude remains downwards, but some short-term bullish signals are creeping into the chart, says Andy Dodd, Head of Technical Research at Louis Capital Markets.
A head and shoulders top on the spread between Ultra Low Sulphur Diesel and Natural Gas is targeting spread values not seen since July of 2010, according to Walter Zimmermann, Senior Technical Analyst at United-ICAP.
Key support for Gold at around 1180 finally gave way recently, allowing gold to resume the bear trend which has been in force since September 2011, according to Kamran Sheikh, Technical Strategist at Informa Global Markets.
Gold has broken below a key triple bottom support, according to George Davis, Chief FIC Technical Analyst at RBC Capital Markets
Crude oil is currently testing a significant multiyear retracement at around the $76.28 level, says Chris Williams, Senior Broker at Newedge.