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Crude Oil Weekly Technical Outlook + MORE

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This week has been in favour of the sellers with clients net-selling their silver positions whilst gold positions have remained neutral.
GoldMoney’s clients have continued to favour the Singapore vault along with more interest being shown toward the Hong Kong, Swiss, and Canadian vaults and less preference being shown toward the London vault…

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Market Report: Firm undertones

– .goldmoney.com

The dollar gold price rose this week from Monday’s low of $1215 to close last night (Thursday) at $1240, and silver rose from $14.90 to $15.20.
Silver’s performance compared with gold reflects lower than normal silver volatility, a trend that has featured from the start of this year, which can be discerned in the underperformance shown in the headline chart above…

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Natural gas stayed in range in side near term channel last week and outlook is unchanged. Fall from 2.496 is likely finished at 1.611 already. Further rise is in favor as long as 1.766 support holds. Current rally would gyrate towards 100% projection of 1.611 to 1.957 from 1.766 at 2.112 next.

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At this point, deeper fall is still mildly in favor in silver with focus on 14.61 support, 61.8% retracement of 13.62 to 16.17 at 14.59. Break would at least bring a test on 13.62 low, with mild prospect of breaking to a new low. Meanwhile, above 15.55 resistance will turn focus back to 16.17 instead…

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Volatility jumped with the VIX fear index urging to the highest level in 3 weeks. Risk assets got hammered. Wall Street retreated with DJIA and S&P 500 indices losing -0.98% and -1.2% respectively. Shares in Asia fell across the board in morning session today. In the commodity sector, crude oil pared gains made over the past two days…

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Interest rates and gold

– .goldmoney.com

It is commonly assumed that the gold price and interest rates move in opposite directions.
In other words, a tendency towards higher interest rates is accompanied by a lower gold price. Like all assumptions about prices, sometimes it is true and sometimes not.The market today is all about synthetic gold, gold which is referred to but rarely delivered…

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The consolidation from 1287 short term top is still in progress. Deeper pull back might seen but seen to to 38.2% retracement of 1045.4 to 1287.8 at 1195.2 or below. But after all, price actions from 1287.8 should be corrective in nature. And, we’d expect rise from 1045.4 to resume later.

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Crude oil breached 35.96 support last week but quickly recovered. Initial bias is neutral this week first. We maintain our expectation that strong resistance from 40.00/41.42 resistance zone (61.8% retracement of 50.92 to 26.05 at 41.42, 38.2% retracement of 62.58 to 26.05 at 40.00) should complete the rebound from 26…

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