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Gold, Oil, Silver Weekly Analysis

Gold, Oil, Silver Weekly Analysis | 13 November 2015

Gold weekly Review:
Gold, Oil, Silver Weekly Analysis
Weekly Review:

During the session on Friday gold markets fell significantly following the Nonfarm Payroll Number unanticipated higher outcome. As a result of this, the US dollar  strengthened massively, which worked against the value of gold. Since Gold is negatively correlated to the US Dollar, we believe that US dollar will continue to long, as the previous metal goes down further. At the moment, we are very reluctant to buy Gold. Should the market make fresh new low,  then we expect the current downward movement to go further down to towards $1000.
 
From the attached chart, if gold can successfully close below $1076, then we expect the current downward movement to go down further probably up to the $1000 level. We are looking forward to selling this metal as long as it closes below $1076. Ideally, the current downward movement should be support along the lower supportive trend line. 

Trade Recommendations. 

As long as Gold trades bellow $1084, short positions will be ideal for trading, any clear move above $1100 will challenge this view. Sell from 1076, but with stop loss at $1101

Oil weekly Review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:

During the trading session on Friday, crude market fell significantly following the Friday's to the  stronger than anticipated NFP Job number results. Although one can possibly argue more demand for Oil based upon more hiring in the US, the United States Dollar failed to consider our expectation. Following this move in the US Dollar, Oil will most likely continue short Probably up to $ 42.45 level, as long as Gold and Silver also continue short.Should the price move below $43.38, then we will continue short up to $40.00 level or even below. Although we may consider buying when supportive candles shows up, such candles are yet to appear since it looks as though the market is interested much more in supply than the demand for oil.

Trade Recommendations:

we are waiting to go short from 43.38, since the zone 44.04, and 43.38 have been a strong supportive level, any movement lower than 43.38 will signal further movement to the lower side. This downward movement may go probably up to 38.05. This view can only be challenged should a bullish candle begin to show up above 44.04.

Silver weekly Review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:
 
Since 28th October 2015, following the exhaustion formed on that day, Silver markets has continually made lower highers. The NFP results released on Friday further send the markets down  but could not drive it lower than 14.68. We still expect further movements to  the lower side probably up to below 14.33. This downward movement is highly anticipated since a positively correlated metal, Gold is also making lower lows, while the US Dollar is clearly headed long.
During the course of this week, we recommend more sell positions positions but  only up to 14.33, and even further down  up to the lower supportive trend line.
 

Trade Recommendations:

Remain short in this pair but with TPs at 14.33, and next at the support trend line, any clear movement below the supportive trend line will signal further movements to the lower side. 


 
Bob Stan
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