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Gold, Oil, Silver Weekly Analysis

Gold, Oil, Silver Weekly Analysis | 06 November 2015

Gold Weekly Review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:
For the past Three weekly starting 15th October 2015, Gold has continued trading short with barely any support. On 28th October, the Gold markets formed a perfect downward signal pushing the market further down to 1137.81. Following this massive downward movement, we are very reluctant to go long unless the market gives us a clear reversal signal.
In the mean time, we remain short, but with stops at 1123.28, and the next ultimate stop at the support lower trend line shown on the daily chart attached. We many also look to buy along 1105.44. since this is a very strong support level and has held the market for the past two and half months.  Based on the previous data about this level, it may be of significance to trades in the near future. But the best buy zone should be along the support trend line. This trend line has held the market for the past two years starting 5th July 2013.

Trade Recommendations:

Remain short in this commodity but with stops at 1123.28, and the next ultimate stop at the support lower trend line shown on the daily chart attached. Also look to buy along 1105.44

Crude Oil Weekly Review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:

Opposite scenario in Crude Oil, Opposite scenario is when the price action is showing something different from what the intraday stochastic is showing. From the the commodity's Daily chart, we are some hours close to a massive movement to the lower side.

Justification:
 
On 9th October 2015, while the price was at 50.91, the intraday stochastic was trading at 87.40. We expected both the price and the indicator to be back on the same levels at the exact time, however as it appears, The intraday stochastic is already trading around 87.40, while the price action is way below its previous level by  374 pips, this is a long distance that may require a lot of time to cover, furthermore, the current level 47.09, is a weekly strong resistant that will require a lot of upward force to break above, meaning, the last two day upward movement is merely a retracement, and the price will continue to go short.

Trade Recommendations:

During this week, we will have more sells trades on the crude oild market but with stops at 43.84, and the next stop at 37.99. This move can only be rendered futile, if the price closes above 48.07. In that case, we may opt for long positions.

Silver Weekly Review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:
 
Opposite scenario in Silver Markets. Opposite scenario is when the price actions is showing something different from what the intraday stochastic is doing. During this week, there is a possible opposite scenario in the silver markets.

Justification:

 On 1st October 2015, while the price action was at 14.35, the intraday stochastic was at 9.1667. We expected both the price at the stochastic to return back to the same levels at the exact same time, however as it appears, the intraday stochastic is almost on the previous level 9.1667, while the price action is 1132 pips above its previous level. This is a good example of opposite scenario, and price will likely turn back upwards. However we will pair for price to exhaust around 15.17, before we go long in the silver market. Long positions will be accompanied by TPs at 15.62, and the next stop at 16.74.

Trade Recommendations:

Wait for the price action to reach 15.17, and the intraday stochastic to reach 9.1667, then go long but with TPs at 15.62, and the next stop at 16.74

Bob Stan
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