Archives: Commodity News

Gold and Oil Technicals

Gold remains under distribution with resistance falling from $1,150 toward $1,140 while RSI under 50 and falling confirms downward pressure increasing. Next potential support near $1,136 then $1,126 a Fibonacci level. Crude Oil WTI continues to struggle with $46.60 Fibonacci resistance but it also continues to hold on to most of last week’s breakout gains • Read More »


Gold Retreat and Crude Oil Breakdown

Gold has successfully retested $1,160 Fibonacci support again but continues to struggle with resistance at a lower high near $1,170. RSI drifting back toward 50 indicates upward momentum slowing. Potential support on a breakdown may appear in the $1,150 to $1,152 area. Crude Oil WTI is breaking down today, taking out $43.00 former channel support • Read More »


WTI dives, stocks slide on possible US oil sales and disappointing durables

US markets spent the day in retreat, dragging European indices down for the ride as disappointing US economic data dragged on sentiment. Durable goods were particularly poor, coming in below expectations for September and August being revised even deeper into the red, while consumer confidence took a tumble as well. In recent years, this kind • Read More »


Durables Drop Drags Dow Down Drain

US stocks have taken a turn for the worse this morning due to a dismal durable goods orders report that not only missed expectations by a wide margin for September, but saw August orders revised sharply downward, a sign of a struggling industrial/manufacturing sector. Durable goods weakness continues a steady stream of data disappointments this • Read More »


What is happening to Light Crude Oil?

This was a very intensive week on the oil market. At the beginning of this week, there were news regarding problems in Chinese economy, and the expectations that the growth of world economy will slow down had prevailed. But during this week, other important data was published – the US GDP had been significantly increasing, • Read More »


Oil futures settled firmer on Thursday, building on the previous day’s gains that came after the US government data showed sizable weekly declines in crude supplies and production.

Oil futures settled firmer on Thursday, building on the previous day’s gains that came after the US government data showed sizable weekly declines in crude supplies and production. Crude also saw support from news that Saudi Arabia plans to trim oil production after this summer. West Texas Intermediate crude for September delivery added $0.22 to • Read More »




Oil Moves as Saudi King’s death causes uncertainty

Oil prices jumped this Friday as the news spreads about the death of Saudi Arabia’s king Abdullah. This added to the uncertainty on the energy markets. Abdullah’s brother Salman will become the new king in the world’s top oil exporter.