- Crude Oil Traders To Keep One Eye On Escalating Ukrainian Turmoil
- Gold In Tug-Of-War As Geopolitical Tensions Offset A Stronger Greenback
- Palladium Targeting 1,000 After Leaping Over The $900 an Ounce Hurdle
CRUDE OIL TECHNICAL ANALYSIS
Crude is at a critical juncture as the commodity threatens to clear the 23.6% Fib and descending trendline on the daily. A break through the nearby barrier would be required to mark a small base and threaten a more sustained recovery for the commodity.
GOLD TECHNICAL ANALYSIS
Gold’s recovery appears to have lost momentum. Yet buying interest at the 1,280 floor and a low ATR reading suggests the potential for the commodity to remain elevated.
SILVER TECHNICAL ANALYSIS
The tug-of-war between the silver bulls and bears sub 19.50 continues. A parade of Doji formations suggests indecision from traders and does little to confirm a clear directional bias for the precious metal. A daily close above the nearby barrier would suggest a small base and open the potential for a greater recovery.
COPPER TECHNICAL ANALYSIS
A sharp correction for Copper has yielded a Bearish Engulfing
formation that may warn of further weakness. This could set the
commodity up for a retest of its recent lows near the 3.08 floor.
However, a clean run towards the target may prove difficult given the
commodity’s recent tendency to whipsaw in intraday trade.
PALLADIUM TECHNICAL ANALYSIS
Palladium has cracked the 900 target offered in
recent commodities reports. With the core uptrend intact the upside
break opens the next psychologically-significant 1,000 handle. It is
also worth noting that a void of bearish candlestick signals casts some
doubt on the potential for a correction.
PLATINUM TECHNICAL ANALYSIS
Platinum’s recovery has faltered at the 1,424
ceiling, leaving a narrow trading band in play. Within the context of a
broader downtrend, selling into corrective rallies is preferred.
