Tag: XM

Gold falls below 50 moving average in 4 hour chart – February 13, 2017

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Monday, February 13, 2017

Gold 4 hour chart shows price falling below the 50 moving average in the first hours of the trading week. Stochastic made a bearish cross and is currently reaching extreme oversold levels.

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The daily chart for gold is also looking bearish. Stochastic made a bearish cross and RSI also touched overbought levels a few days ago. We are short term bearish for gold right now. Short term target is a support from May 2016 which is 1204.07. Second target if price below the first level is 1182.63.

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USDCAD Forecast 4H and Daily Chart – February 9, 2017

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The 4H chart above for the USDCAD shows the pair went below the consolidation levels of 1.31510-1.32000. Stochastic showing the price is currently in oversold levels. Price may find support at the 50 moving average (Light Blue line). RSI is currently at neutral levels. 4H chart looks short term bearish but traders should go in with caution.

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The daily chart for the USDCAD tells a different story. Price is currently below 200 moving average and stochastic is near the overbought levels and it is looking to form a bearish crossover soon. The pair needs to find support around the 1.30020 level and bounce up to break the current downtrend. The pair has been bearish since December and possibly may continue in the long term.

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WTI Crude Oil Prices March Futures – February 8, 2017

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The WTI Crude Oil Future price is currently slightly below the 50 moving average of 52.67. Stochastic and RSI is currently at neutral levels.  The price ignored recent news about the US having massive amounts of crude supply and ended the day in green with massive short covering. Crude Oil has been in consolidation since November and there is still no clear direction in where the prices are going.

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