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- Nov, 21 Oil Extends its Pull Back as Risk Aversion Looks to Close the Week
- Nov, 20 Oil, Metals Focus on Risk Trends, US Dollar into Week-End
- Nov, 19 Oil Tumbles from its Prominent Technical Ceiling Despite an Upgrade to Growth
- Nov, 19 Oil and Metals Look to OECD Outlook, Geithner Testimony as Catalysts
- Nov, 18 A Drop in Crude Inventories Pushes Oil to the Brink of a Breakout but Hesitation Persists
- Nov, 17 Oil Rally Stalls ahead of Inventory Numbers at the Border of a Prominent Trend Channel
- Nov, 16 Oil Surges through Monday’s Session as Risk Appetite, Macro Data Spark Buying
- Nov, 14 Oil Finally Marks a Critical Break but Risk Aversion will have to Step up for a Bearish Trend
- Nov, 12 Oil Plunges as Risk Appetite Ebbs and Inventories Rise
- Nov, 12 Oil Looks to Jobless Claims, Earnings. Gold Outlook Darkens
- Nov, 12 The Divergence Between Gold and Silver is too Remarkable to Ignore
- Nov, 11 Oil May Rise on Chinese Data, Gold Technicals Point Lower
- Nov, 10 Crude Exhibits a Constrained Decline Despite the IEA’s Reduced Forecast for Long-Term Demand
- Nov, 09 Crude Rallies as the Risk Appetite Rallies and Ida Threatens the Gulf of Mexico
- Nov, 07 Gold Rallies to a Fresh Record High after a Sharp Jump in US Unemployment
- Nov, 05 Gold’s Bullish Momentum Stabilizes ahead of US Employment Report
- Nov, 06 Oil, Metals Look to US Jobs Report to Set Trajectory
- Nov, 05 Oil, Metals Positioning Points to Weaknes. Jobless Claims Key Ahead of NFP
- Nov, 04 A Surprise Drop in Crude Inventories and Advance in Risk Appetite Leads Oil to a Bullish Breakout
- Nov, 03 Gold Extends its Rally to a Record High following the Indian Central Bank’s 200 Ton Bid
Oil, gold and silver are likely to fall in with broad risk trends, with earnings reports guiding directional momentum as scheduled event risk thins out before Wednesday's FOMC announcement.
Commodities – Energy
Earnings Reports Take Center Stage as Crude Trades with Risk Sentiment
Crude Oil (WTI) $77.50 -$0.63 -0.81%
Oil has continued to consolidate in a familiar range between $78.17 and $76.82. Bearish momentum is seen as Swiss banking giant UBS as well as German luxury carmaker BMW and retailer Metro AG reported disappointing third-quarter earnings. Mastercard Inc, Marathon Oil Corp, and Viacom Inc are notable names set to report results ahead of the opening bell on Wall St. September’s US Factory Orders is the only item of marginal significance on the data docket to be released late into the session, but the report is unlikely to prove particularly market-moving considering traders have already seen and reacted to the October ISM survey.
Commodities – Metals
Gold to Turn Lower Below Triple Top Resistance, Silver Consolidation Continues
Gold $1058.62 -$0.87 -0.08%
Gold prices rebounded to re-test resistance at the triple top just below $1070 mark and are now building an Evening Star bearish reversal candlestick formation. As with crude, earnings reports take center stage today with a pause in scheduled event risk until Wednesday brings the FOMC rate decision, followed by the same out of the BOE on Thursday as well as the all-important Non Farm Payrolls report on Friday.
Silver $16.39 -$0.06 -0.36%
Technical positioning remains unchanged as prices continue to consolidate in a narrow range between $16.11 and $16.75. As with gold and oil, earnings reports (detailed above) are the catalysts to watch on the fundamental front.
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