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- Jan, 07 Crude Tempers its Record-Breaking Run but the Overall Trend Remains Intact
- Jan, 04 US Dollar Consolidates Above Support on Signs of Chinese, US Economic Recovery
- Dec, 23 US Dollar, Japanese Yen Lag in Low Volume Trading - US New Home Sales Down 11.3%
- Dec, 17 Oil, Gold Reverse Lower as US Dollar Surges on Fed Rates Outlook
- Dec, 17 Crude Accelerates its Reversal on a Sharp Drop in Inventories, Jump in Consumption
- Dec, 16 Gold, Metals Set to Correct Higher Ahead of US Rate Decision
- Dec, 16 Crude Snaps its Worst Bear Trend in 8 Years
- Dec, 15 Crude Oil, Metals Face Dense Economic Calendar
- Dec, 14 Speculative Interests Giving Way to Fundamentals as Crude Oil Extends its Record Breakout Plunge
- Dec, 14 Oil, Metals Under Pressure as Dollar Gains on Fed Outlook
- Dec, 11 Can Crude Break Pull Up From its Worst Trend in Six Years?
- Dec, 10 Crude Oil Suffers its Worst Bear Trend in Three Years
- Dec, 10 Oil Drop Continues, Gold May Bounce Before Selling Resumes
- Dec, 10 Gold Struggling through its Most Acute Correction since the Financial Crisis
- Dec, 09 Oil Technical Positioning Points Sharp Losses Ahead
- Dec, 08 Crude Oil Prolongs it Worst Bear Trend in Five Months on Risk Aversion
- Dec, 08 Oil Prices Break Support, Gold Rebound May Continue
- Dec, 08 Crude Oil’s Descent Extends to a Fourth Session and Hints at a Potentially Critical Trend Reversal
- Dec, 07 Oil Tests Key Support, Gold Has Scope to Rebound
- Dec, 05 Gold Suffers its Biggest Daily Drop in a Year as the Dollar Surges
Oil, gold and silver are set to fall in with broad trends in risk appetite into the end of the trading week with virtually nothing of note on the eonomic or the earnings calendars.
Commodities – Energy
Oil May See Bounce with US Index Futures Higher as Prices Follow Risk Trends
Crude Oil (WTI) $77.07 -$0.39 -0.50%
Crude has slipped below support at $78.13 as risk aversion returned across capital markets, with the door now open for a move towards downward-sloping support near the $75 mark. The economic and earnings calendars are bare, with the Baker Hughes measure of oil rigs operating in the US being the only item on the docket. The broad trajectory of risk appetite is the key going in to Friday trading, rising US index futures seem to point towards a bit of a bounce.
Commodities – Metals
Metals Focus on Risk Trends, US Dollar Outlook into Week-End
Gold $1142.40 -$2.20 -0.19%
Technically, gold positioning in essentially unchanged from yesterday. Prices have come off from resistance at the top of a rising channel, with prices now inching lower towards initial support at $1132.10. A break below this juncture opens the door to test the channel bottom near $1125. Fundamentally, an empty economic docket points to the primacy of risk trends and their impact on the US Dollar as the key catalyst for prices in Friday trading.
Silver $18.34 -$0.20 -1.07%
As with gold, silver is little changed from yesterday but recent highs are clearly divergent with momentum indicators, suggesting a bearish bias. Initial support lines up at $18.09. Fundamentally, broad risk trends dominate here as well.
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