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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
Gold prices broke through key resistance and soared to a new record high while crude oil rebounded towards $78 on broad-based US Dollar weakness. Risk trends and the outlook for the greenback remain key through thin holiday trade around the US Thanksgiving holiday.
Commodities – Energy
Oil Bounces, Risk Trends and US Dollar Outlook Key Ahead
Crude Oil (WTI) $77.25 -$0.71 -0.91%
Oil rebounded from support near the bottom of a falling channel that has confined trading since late October to find resistance in familiar territory ahead of the $78 level. Liquidity has thinned out ahead of the US Thanksgiving holiday with nothing on the economic or the earnings calendars to guide risk sentiment, opening the door for knee-jerk volatility into the end of the trading week.
Commodities – Metals
Gold Rally Accelerates, Silver Technical Positioning Points Lower
Gold $1192.55 +$0.75 +0.06%
Gold prices have pushed above resistance at the top of a rising channel that has confined trading since the beginning of the month, hitting a new record high. The psychologically significant $1200 level looms ahead. The fundamental docket is empty ahead of the US Thanksgiving holiday, with risk trends and US Dollar sentiment the only catalysts of note.
Silver $18.76 -$0.09 -0.48%
Silver technical positioning continues to point to a bearish reversal, with prices showing sharp negative divergence with the RSI momentum gauge below key psychological resistance at the $19 level. The fundamental landscape is much the same as that of gold, with risk trends and the US Dollar being the primary drivers for the near term.
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