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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 22 JANUARY: | ASX up 1.3pc in huge week for Zip, Lynas | iCandy looks to double up in Chinese gaming market with Rocky Rampage launch |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 21 JANUARY: | ASX gains 0.8pc | Greenhouse study shows AVZ Minerals could achieve lowest carbon footprint at Manono lithium-tin project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

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    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

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    Thursday AP Morning Wire

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    OP: Biden’s Big Day

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 22 JANUARY: | ASX up 1.3pc in huge week for Zip, Lynas | iCandy looks to double up in Chinese gaming market with Rocky Rampage launch |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 21 JANUARY: | ASX gains 0.8pc | Greenhouse study shows AVZ Minerals could achieve lowest carbon footprint at Manono lithium-tin project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

    Trending Tags

    • FEEDID-6
    • FEEDID-51
    • FEEDID-44
    • FEEDID-31
    • FEEDID-21
    • FEEDID-16
    • FEEDID-36
    • FEEDID-10
    • feedid-56
    • feedid-58
    • feedid-61
    • feedid-59
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    • feedid-62
    • feedid-63
    • feedid-65
    • feedid-66
  • Charts

    The Cotton Row Journal, week of 18-22 Jan

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 22 JANUARY: | ASX up 1.3pc in huge week for Zip, Lynas | iCandy looks to double up in Chinese gaming market with Rocky Rampage launch |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

    The Cotton Row Journal, week of 18-22 Jan

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 21 JANUARY: | ASX gains 0.8pc | Greenhouse study shows AVZ Minerals could achieve lowest carbon footprint at Manono lithium-tin project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    The Cotton Row Journal, week of 18-22 Jan

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    • Market Recap
    • MrTopStep
    Chart of the Day: Coming Up (Smaller Companies Rally)

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    links

    Danny’s Links: January 22nd 2020

    OP: Missing the Mark

    OP: Missing the Mark

    OP: Missing the Mark

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    S&P 500 repurchasers return to favor as Netflix looks at joining them

    S&P 500 repurchasers return to favor as Netflix looks at joining them

    OP: Wall Street Welcomes Biden

    OP: Wall Street Welcomes Biden

    links

    Danny’s Links:

    Washington Post: 900,000 filed for jobless claims last week, a historically high level as Biden inherits worst job market of any modern president

    OP: Wall Street Welcomes Biden

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    GMTT / Chart of the day / Apple / Oct 27, 2020

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Home Futures Energy

Crude Oil, Gold May Find Lifeline in Soft US Economic Data

DailyFx by DailyFx
Tuesday, July 30, 2013
in Energy, Metals
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Crude Oil, Gold May Find Lifeline in Soft US Economic Data
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Crude oil and gold prices may find a lifeline if US Consumer Confidence data falls short of expectations, undercutting the case for “tapering” Fed QE efforts.

Talking Points

  • Commodities to Rise if Soft US Data Dents Case for Tapering Fed QE
  • Crude Oil Technical Positioning Points to Continued Weakness Ahead

 

All eyes are on the July’s US Consumer Confidencefigure, which investors will look toward tohelpinform speculation surrounding the Fed’s intentions to “taper” the size of its QE asset purchases. On the whole, US economic outcomes appear to be losing momentum relative to expectations over recent weeks. This keeps the door open for a disappointing print that undercuts the case for a near-term reduction in stimulus.

 

Such a result is likely to be supportive for cycle-sensitive crude oil and copper prices as traders cheer on the possibility of a comparatively more distant reduction in policy support for the world’s largest economy. It will probably boost anti-fiat demand for gold and silver as well as investors consider the Dollar dilution implications of a longer-lasting QE effort. S&P 500 futures are trading comfortably higher ahead of the opening bell on Wall Street, bolstering the case for a “risk-on” scenario.

 

Capitalize on Shifts in Market Mood with the DailyFX Speculative Sentiment Index.

 

Crude Oil Technical Analysis (WTI) – Prices turned lower as expected. Sellers have now overcome support at 105.06, the 23.6% Fibonacci retracement, exposing the 38.2% level at 102.70. A further push beneath that aims for the 50% Fib at 100.79. The 105.06 level has been recast as near-term resistance, with a reversal back above that eyeing the July 19 high at 108.89.

 

Commodities_Oil_Gold_May_Find_Lifeline_in_Soft_US_Economic_Data_body_Picture_3.png, Crude Oil, Gold May Find Lifeline in Soft US Economic Data

Daily Chart – Created Using FXCM Marketscope 2.0

 

Gold Technical Analysis (Spot) – Prices put in a Bearish Engulfing candlestick pattern below resistance at the top of a rising channel set from late June, hinting a move lower is ahead. Channel bottom support is now at 1312.15, with a break beneath that initially targeting the 23.6% Fibonacci expansion at 1273.98. Channel resistance is now at 1379.51.

 

Commodities_Oil_Gold_May_Find_Lifeline_in_Soft_US_Economic_Data_body_Picture_4.png, Crude Oil, Gold May Find Lifeline in Soft US Economic Data

Daily Chart – Created Using FXCM Marketscope 2.0

 

Silver Technical Analysis (Spot) – Prices are testing support at the bottom of a bearish Flag pattern (), with a break downward on a daily closing basis targeting the 23.6% Fibonacci expansion at 19.03. Near-term resistance is at 20.59, the July 23 high, followed by the Flag top at 20.93.

 

Commodities_Oil_Gold_May_Find_Lifeline_in_Soft_US_Economic_Data_body_Picture_5.png, Crude Oil, Gold May Find Lifeline in Soft US Economic Data

Daily Chart – Created Using FXCM Marketscope 2.0

 

Copper Technical Analysis (COMEX E-Mini) – Prices are testing through support at the bottom of a bearish Flag continuation pattern (3.086) and the 38.2% Fibonacci expansion at 3.067. A break below the latter level targets the 50% level at 3.016. Near-term resistance is at 3.130, the 23.6% Fib.

 

Commodities_Oil_Gold_May_Find_Lifeline_in_Soft_US_Economic_Data_body_Picture_6.png, Crude Oil, Gold May Find Lifeline in Soft US Economic Data

Daily Chart – Created Using FXCM Marketscope 2.0

 

 

 

— Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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