Friday 17 October 2014

Gold Trading Recommendation (17/10/2014)

The metal moved slightly to the downside yesterday but is still above 1236.15. Trading above the referred to level at 38.2% correction forces us to keep our positive expectations targeting 1269.15 and 1253.00 at 61.8% and 50% corrections consecutively. Linear Regression Indicators are positive, MACD and RSI tend to be positive forcing us to bet on an upside move.

From the downside, only a break below 1215.75 fails the current bullish wave, but we prefer to keep trading above 1236.15 to strengthen the bullish possibility intra-day today.


Support: 1236.15, 1231.05, 1226.60, 1220.00, 1215.75
Resistance: 1240.25, 1244.50, 1248.00, 1253.00, 1269.15

Recommendation Positive expectations above 1236.15, risk-limit below 1220.00.

Crude Oil Trading Recommendation (17/10/2014)

Crude oil is still stable below the previously broken descending channel support turning to resistance now at 83.45, while Linear Regression Indicators are still providing negative signals that support extending the bearish bias in the coming period. Hence, the downside move remains valid targeting next 80.00 and extends to 77.20.


Support: 82.40, 81.90, 81.20, 80.00, 79.15
Resistance: 83.00, 83.45, 83.95, 84.90, 85.45

Recommendation Negative expectations below 83.45, risk-limit above 85.45.