Gold, Oil, Silver Weekly Analysis | 06 November 2015

Gold Weekly Review:

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:

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:

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

แบ่งปัน

Facebook

Twitter

Bob Stan

Agree with the review?Agree Disagree

Traders' opinion:

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.

Gold, Oil, Silver Weekly Analysis | 06 November 2015

แบ่งปัน

Bob Stan

รางวัลที่ดีที่สุดของเรา: