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Commodities Technical Analysis, August 26th — August 30th

The technical analysis, that includes the indicator data and major pivot points for WTI Oil, Gold, Silver, Copper, and Natural Gas in continuous charts as of August 25th, 2019: Crude Oil Indicators Moving Averages RSI Parabolic SAR CCI Short Neutral Long Neutral Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 48.50 50.87 52.36 54.73 56.22 58.59 60.08 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st...

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Crude Oil Sinks as US-China Trade War Escalates

Futures for crude oil sank today. Natural gas joined the decline, though its losses were nowhere near as big as the ones demonstrated by crude. The main reason for oil’s slump was an escalation of the Sino-US trade war. China responded to US tariffs by its own levies on US imports, and US President Donald Trump threatened to retaliate. The spat between the two world’s biggest economies can...

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Gold Spikes as US-China Trade Dispute Hits Into High Gear

Gold futures are rallying at the end of the trading week, driven by another escalation in the US-China trade dispute. The yellow metal received a boost following Federal Reserve Chair Jerome Powell’s speech, promising that the central bank will act to sustain the economic expansion. Gold is already up 8% on the month and trading at its best level in several years, so can it maintain its bull run? December...

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Gold & Silver Remains Under Pressure from FOMC Minutes

Gold and silver extended yesterday’s decline today. Copper joined the decline but platinum and palladium managed to rally. Markets continued to digest the monetary policy meeting minutes released by the Federal Open Market Committee yesterday. Traders were hoping to see signs that the FOMC plans aggressive monetary easing. Instead, the minutes showed that the interest rate cut in July was “mid-cycle...

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Natural Gas Flat As Supply Build Matches Market Expectations

Natural gas futures are trading relatively flat on Thursday after the US government reported an increase in domestic supplies, effectively matching what the market expected. Traders will now keep an eye out on a flurry of industry activity in several natural gas markets. October natural gas futures dipped $0.005, or 0.27%, to $2.16 per million British thermal units (btu) at 16:57 GMT on Thursday on the New York...

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Precious Metals Under Pressure After FOMC Minutes

Precious metals were under pressure today after the monetary policy minutes released by the Federal Open Market Committee today. The US dollar gained after the release. Consequently, dollar-priced commodities came under pressure. Prices for gold, silver, and palladium declined but platinum managed to avoid losses. The FOMC released minutes of its July policy meeting at which the range for the federal funds rate was lowered...

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Crude Oil Mixed After EIA Report, FOMC Minutes

Crude oil traded mixed today despite the bigger-than-expected drawdown from US inventories. Brent crude gained while prices for the WTI grade fell. The Energy Information Administration reported that US stockpiles of crude fell by 2.7 million barrels to 437.8 million barrels last week. The drop was about two times bigger than the consensus forecast. Yet the North American grade of oil did not respond to the report...

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Orange Juice Rebounds As Investors Place Bets on Hurricane Season

Orange juice futures are rebounding midweek as investors are placing their bets on a busy hurricane season. The agricultural commodity has slipped below the crucial decade-low $1 threshold because farmers in Florida are recovering from the devastating citrus greening, a disease that has crippled the state’s orange growers. September orange juice futures rose $0.0225, or 2.35%, to 97.95 cents per pound at 19:08 GMT on Wednesday...

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Video: Crude Oil as of August 20, 2019

In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of August 20, 2019. He starts the video by mentioning that hedge funds and money managers trimmed their net long positions on crude last week. Phil proceeds then with explaining what factors were influencing oil last week and what factors will be driving the commodity this week. He also discusses possible price moves. If you found this video...

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Video: Factors Affecting Precious Metals, Important Price Levels

In the present video, Phil Carr from The Gold and Silver Club answers questions of the viewers. He talks about gold and silver both in the short and the longer term. Phil explains what factors were affecting the metals recently and what events will be affecting them in the near future. He also discusses possible price levels the commodities may be hitting in the future. The video mentions that...

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