Start
trading

Main >
Analytics
>
Fresh forecast
>
Elliott waves analysis
>
Gold, Silver, Oil Weekly Analysis

Gold, Silver, Oil Weekly Analysis | 12 February 2016

Gold Weekly Review:
Gold, Silver, Oil Weekly Analysis
Weekly Review:
During the previous trading week, gold markets traded perfectly long and is still pretty much bullish. Since the demand for gold is stronger than the supply for gold, we will be hunting for long positions this week but with our ultimate targets at the 100% fib level and the upper resistive trend line. Only a close below $1154 would mean we are headed short. Gold should be traded alongside Silver and U.S. Treasury Bond Futures. These commodities have a strong positive correlation of up to +0.95 and are thus expected to have a similar price action. While buying or sell gold, its wise to confirm the other positively correlated pairs for similar positions.
Trade Recommendations:

During this week, hunt for long positions but with your targets at the 100% fib level and the upper resistive trendline.

Silver Weekly Review

Gold, Silver, Oil Weekly Analysis

 

Weekly Review:
 
During the previous trading week, Silver traded long and almost hit the 50% fib level. We expect a break above this level and even further to above the 61.8% fib level. A break above the latter would mean we are headed further long with our ultimate target at the 100% fib level. We will therefore be keen to hunt for long positions this week but with our TP levels at 15.36 and 16.32. We will only sell upon a clear bounce from either of this fib levels, but with an ultimate sell TP at 14.40. Silver should be traded alongside gold and US 10Y T-Note. These items have a strong positive correlation of up to +0.85 and are thus expected to have a similar price action. Only buy or sell silver, if the other positively correlated items are giving the same signal.

Trade Recommendations:

During this week, look for long positions above the 50% fib level but with your ultimate targets at 15.36 and 16.32. Any clear bounce from either the next fib levels would have an ultimate sell TP at 14.40

Oil Weekly Review:

Gold, Silver, Oil Weekly Analysis

 Weekly Review
 
During the previous trading week, while other commodities such as Gold and silver were trading long, oil traded short and is still pretty much bearish. Nonetheless, unless the price close perfectly below 29.14, we will be looking for long positions this week but with targets at 33.30, 35.71, and 38.25. A close below 29.14 will call for further short positions but with our ultimate target at 26.38. Brent Crude oil should be traded alongside West Taxas oil, US Russ 2000, and US Wall St 30. The items have a very strong positive correlation to Brent crude oil and are thus expected to have a similar price action. Only buy or sell Brent oil if all the other positively correlated items are giving the same signal.

Trade Recommendation:

Unless the price close perfectly below 29.14, look for long positions this week but with targets at 33.30, 35.71, and 38.25. A close below 29.14 will call for further short positions but with your ultimate target at 26.38.

Bob Stan
Agree with the review?
Traders' opinion:

Close
Log in

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.