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Gold, silver, crude oil short-term technical analysis

On Thursday (March 15), the European market quoted analyst Peter A Rosenstreich of Swissquote Bank for a long-term analysis of the trend of gold, silver (16.77, 0.09, 0.54%) and crude oil (65.60, 0.05, 0.08%). prediction.


1. Gold: further decline


Short-term: Daily level, after the price rebound hit the 1330 mark, it fell again. As of the time of the draft hourly chart, the price performance has further dropped. The current price is trading at a level near 1320, and the market price is expected to continue to fall.


In the hourly chart, the current resistance level is located at the 1348 level, the February 20, 2018 high. The support level looks at the 1330 low of December 29, 2017.


Long-term: monthly level, technical indicators suggest that the current price action can be increased, but the price if the market outlook breaks the March 1, 2014 high of 1392 level, this upward trend will be further confirmed; the current support level looks to 2010 February 5 low level 1045 level.


At 22:42 GMT, spot gold was at 1,138.2 dollars per ounce.


2. Silver: Downward correction


Short-term: The daily level, the price continues the previous decline, after the price was traded around 16.50-45, the material outlook will further test 16.30 levels. Technical indicators suggest prices are still falling in the short-term. At the hourly level, the current resistance level is located at the high of 16.98 on February 15, 2018, and the support level is at the 16.18 level, the February 9 low of February 2018.


Long-term: At the monthly level, it still holds the view that it is consolidating. The price may have the risk of further decline. The current price is trading below the 200-day moving average and the resistance level is at 21.58 on July 10th, 2014; the support level is at the 11.75 level on April 20, 2009.


22:44 Beijing time, spot silver newspaper $ 16.39/oz


3. Crude oil: weak rebound


Short-term: Daily level, the price has been consolidating since late February. After a strong price rebound on Friday, prices are recovering. Technical indicators suggest that prices have risen further in the short-term. The hourly support is located at the high of 59.72 on February 15, 2018, and the resistance is seen at the high of 66.33 on January 25, 2018.


Long-term: on the monthly level, prices have partially rebounded since the crash last year, but prices may still experience new downside risks. The current price is still trading above the 200 DMA, which is in line with the upward trend line that began in June 2017. The support level looks to the low of 42.40 on November 16, 2016 and the resistance level looks to the 77.83 level on November 20, 2014 high.


22:45 Beijing time, crude oil prices reported 61.16 US dollars / barrel