BEST COMMODITY TECHNICAL ANALYSIS BY CAPITAL STREET FX

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Daily Commodity Analysis – oil, gas plunge, gold, copper struggle.

Introduction

Oil prices declined on Monday as global economic concerns weighed on the demand outlook, overshadowing geopolitical tensions in the Middle East. U.S. crude futures slipped to $73.13 a barrel, reflecting prevailing market sentiment. Meanwhile, natural gas prices plummet 24% amid warmer weather forecasts. Gold faces pressure from expectations of prolonged higher interest rates, while copper edges lower due to the weak economic outlook in China, indicated by underwhelming GDP figures and limited policy support from the People's Bank of China.

Markets In Focus Today – BRENT CRUDE OIL

Oil Down As Economic Headwinds Weigh On Demand Outlook.

Oil prices lost more ground on Monday as economic headwinds pressured the global oil demand outlook and offset geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. For February delivery, the front-month U.S. West Texas Intermediate crude futures were down 28 cents to $73.13 a barrel with the contract set to expire later on Monday. The more active March WTI contract was $73.04 a barrel, down 21 cents. This morning's subdued re-open speaks volumes about current sentiment in the crude oil market despite ongoing geopolitical tensions in Europe and the Middle East.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 78.16 | Negative Crossover | Bearish
• MA 20 : 78.11 | Negative Crossover | Bearish
• MA 50 : 79.44 | Negative Crossover | Bearish

Simple :

• MA 10 : 78.05 | Negative Crossover | Bearish
• MA 20 : 78.08 | Negative Crossover | Bearish
• MA 50 : 78.64 | Negative Crossover | Bearish

RSI (Relative Strength Index): 48.94 | Buy Zone | Bullish

Stochastic Oscillator : 63.41 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 80.60 R2 : 82.82
• S1 : 73.40 S2 : 71.18

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 77.32 | Take Profit: 74.65 | Stop Loss: 79.29

NATURAL GAS

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Daily Commodity Analysis – Expose WTI surge, corn slump, and metals' volatility causes.

Introduction

WTI crude oil rallies to around $74.70 per barrel fueled by global energy supply concerns, exacerbated by Ukraine's drone strike on Russian fuel terminal Novatek and US production disruptions. In corn futures, fractional gains persist amid varied export figures. Gold prices rise, influenced by economic uncertainties, while silver (XAG/USD) plunges to near $22 as Fed rate-cut optimism fades, with attention now on upcoming US Q4 GDP data.

Markets In Focus Today – CRUDE OIL

WTI Improves To Nearly $74.70 Over Global Energy Supplies, And Air Strikes Against Houthis.

WTI price moves higher on concerns over global supply disruptions. Ukraine conducted a drone attack on a Russian fuel terminal Novatek. West Texas Intermediate (WTI) price extends its gains for the second successive session, improving to near $74.70 per barrel during the Asian session on Tuesday. The rise in Crude oil prices is attributed to concerns over global energy supplies, sparked by a drone strike on Russia's Novatek by Ukraine. Additionally, disruptions in Crude production from the United States (US) due to extreme cold weather have contributed to the upward pressure on oil prices.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 73.51 | Positive Crossover | Bullish
• MA 20 : 73.17 | Positive Crossover | Bullish
• MA 50 : 74.52 | Positive Crossover | Bullish

Simple :

• MA 10 : 73.13 | Positive Crossover | Bullish
• MA 20 : 72.83 | Positive Crossover | Bullish
• MA 50 : 73.56 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.37 | Neutral Zone | Neutral

Stochastic Oscillator : 83.82 | Neutral Zone | Neutral

Resistance And Support Levels :

• R1 : 75.38 R2 : 77.52
• S1 : 68.47 S2 : 66.33

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 75.49 | Take Profit: 79.38 | Stop Loss: 73.12

CORN

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Daily Commodity Analysis – Gas up, oil falters, Silver shines; Copper eyes China.

Introduction

U.S. natural gas futures break a six-session losing streak, rising as weather forecasts indicate warmer temperatures through early February. Oil prices fluctuate amid geopolitical tensions, demand concerns, and a stronger dollar. Silver (XAG/USD) shows positive momentum, climbing back above mid-$22.00s. Copper prices, driven by China's stimulus measures, rebound from a two-month low but face challenges amid persistent economic concerns in the world's largest copper importer.

Markets In Focus Today – NATURAL GAS

U.S. Natural Gas Futures Snap Losing Streak.

U.S. natural gas prices stage a late recovery and rise for the first time in six sessions as weather forecasts continue to show warmer temperatures through early February. "While more winter weather is likely to show up, once we get February on the calendar, cold weather forecasts become less and less of a factor for prices," says Analyst in a note. The above-average storage draws expected for last week and this week would need to continue next month to lift prices significantly, "and the probability of such an occurrence is low.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2.457 | Positive Crossover | Bullish
• MA 20 : 2.595 | Negative Crossover | Bearish
• MA 50 : 2.812 | Negative Crossover | Bearish

Simple :

• MA 10 : 2.431 | Positive Crossover | Bullish
• MA 20 : 2.595 | Negative Crossover | Bearish
• MA 50 : 2.812 | Negative Crossover | Bearish

RSI (Relative Strength Index): 40.76 | Neutral Zone | Neutral

Stochastic Oscillator : 84.44 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 2.610 R2 : 2.858
• S1 : 2.392 S2 : 2.225

Overall Sentiment: Neutral Market Direction: Sell

Trade Suggestion: Limit Sell: 2.589 | Take Profit: 2.298 | Stop Loss: 2.792

BRENT CRUDE OIL

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Daily Commodity Analysis – Gold uncertain pre-GDP, copper soars on China stimulus, oil rallies.

Introduction

Gold prices face volatility ahead of GDP data, grappling with steep losses as U.S. economic cues and interest rate uncertainties deter traders. Meanwhile, copper gains momentum following China's additional stimulus measures. Gold declined 0.7% on Wednesday amid anticipation of crucial U.S. GDP and inflation data, with growing expectations of a delayed Federal Reserve interest rate cut. Copper, boosted by China's reserve requirement ratio cut, sits at a three-week high. Oil prices rise on a significant U.S. crude stock draw and optimism from China's stimulus actions. Natural gas experiences a short-covering rally, influenced by oversold conditions and domestic supply-demand factors.

Markets In Focus Today – GOLD

Gold Prices Were Skittish Before GDP Data.

Gold prices nursed steep losses on Thursday as anticipation of a barrage of U.S. economic and interest rate cues kept traders averse to the yellow metal, while copper sat on strong gains this week following more stimulus measures from China. Bullion prices had fallen 0.7% on Wednesday, largely disregarding some weakness in the dollar as anticipation of key U.S. gross domestic product (GDP) and inflation data brewed more uncertainty over interest rates. The yellow metal was battered by increasing bets that the Federal Reserve would cut interest rates later, instead of earlier this year.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2024.34 | Negative Crossover | Bearish
• MA 20 : 2029.35 | Negative Crossover | Bearish
• MA 50 : 2019.58 | Negative Crossover | Bearish

Simple :

• MA 10 : 2026.81 | Negative Crossover | Bearish
• MA 20 : 2034.64 | Negative Crossover | Bearish
• MA 50 : 2029.01 | Negative Crossover | Bearish

RSI (Relative Strength Index): 44.54 | Neutral Zone | Neutral

Stochastic Oscillator : 27.68 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 2127.21 R2 : 2168.19
• S1 : 1994.53 S2 : 1953.54

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 2020.02 | Take Profit: 1988.37 | Stop Loss: 2038.34

COPPER

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Daily Commodity Analysis – Oil rises, gas soars, gold falters.

Introduction

WTI crude oil is poised to end the week positively, hovering around $77.00 per barrel during the Asian session, driven by robust US GDP data and China's liquidity injection strategy. Meanwhile, US natural gas futures rise ahead of the EIA report, propelled by cooler forecasts and reduced production. Gold prices struggle within a tight range as traders await cues on US interest rates, with key inflation data and a Federal Reserve meeting in focus. Copper prices are on track for a strong weekly performance due to China's additional stimulus. Silver faces resistance near $23, with market sentiment cautious ahead of US core PCE data, crucial for the Fed's interest rate decisions.

Markets In Focus Today – CRUDE OIL

WTI Hovers Around $77.00 With A Positive Momentum, Focus Shifts To US PCE, Oil Rig Count.

WTI price is expected to close the week in a positive territory due to multiple factors GDP data contributed support to reinforcing the Crude oil prices.PBoC's strategy to inject liquidity into the economy contributes to the strength in oil prices. Chinese officials asked their Iranian counterparts to help restrain attacks on ships in the Red Sea. West Texas Intermediate (WTI) oil price pauses its two-day winning streak but is anticipated to conclude the week on a positive note, trading near $77.00 per barrel during the Asian session on Friday. However, the Crude oil prices received a positive momentum, which is attributed, in part, to the better-than-expected GDP Annualized (Q4) released from the United States on Thursday.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 74.82 | Positive Crossover | Bullish
• MA 20 : 73.99 | Positive Crossover | Bullish
• MA 50 : 74.72 | Positive Crossover | Bullish

Simple :

• MA 10 : 74.32 | Positive Crossover | Bullish
• MA 20 : 73.21 | Positive Crossover | Bullish
• MA 50 : 73.47 | Positive Crossover | Bullish

RSI (Relative Strength Index): 61.42 | Buy Zone | Bullish

Stochastic Oscillator : 92.20 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 75.38 R2 : 77.52
• S1 : 68.47 S2 : 66.33

Overall Sentiment: Neutral Market Direction: Buy

Trade Suggestion: Limit Buy: 76.27 | Take Profit: 79.57 | Stop Loss: 74.39

NATURAL GAS

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Weekly Commodity Analysis – Gold dips, Copper rallies, Oil soars, Gas falters.

Introduction

Gold (XAU/USD) closes the week with a slight dip, hovering just above $2,018, marking a 0.55% weekly loss. Key indicators show subdued buying momentum, reflecting a pause after December's rally. Meanwhile, the USD's recovery, driven by changing bets on the Federal Reserve, exerts downward pressure. Copper prices ease, but a strong week is expected amid China optimism. Oil settles at an eight-week high, fueled by robust U.S. economic growth and Chinese stimulus, while natural gas faces declines due to storage dynamics, production fluctuations, and lighter demand forecasts.

Markets In Focus Today – GOLD

XAU/USD Trades Mildly Lower And Closes A Losing Week After US PCE Figures.

The XAU/USD experiences a slight decrease, holding slightly above $2,018 with a minor pullback. Key indicators such as RSI and MACD demonstrate a subdued buying momentum, as bulls consolidate December's rally. On Friday's session, the XAU/USD was seen trading at $2,018, presenting a slight decline of 0.08% and closing a 0.55% weekly loss. After reaching a level of $2,135 in December, buyers have been largely taking a pause, suggesting a neutral to a bullish outlook on the daily chart. Despite some momentum observed in the four-hour chart, the indicators remain relatively weak. In addition, the USD recovery fueled by markets adjusting their bets on the Federal Reserve (Fed) due to the US economy showing resilience is pushing the metal lower.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2024.17 | Negative Crossover | Bearish
• MA 20 : 2028.83 | Negative Crossover | Bearish
• MA 50 : 2019.76 | Negative Crossover | Bearish

Simple :

• MA 10 : 2024.37 | Negative Crossover | Bearish
• MA 20 : 2032.74 | Negative Crossover | Bearish
• MA 50 : 2029.89 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.09 | Buy Zone | Bullish

Stochastic Oscillator : 25.67 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 2127.21 R2 : 2168.19
• S1 : 1994.53 S2 : 1953.54

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 2023.48 | Take Profit: 1984.79 | Stop Loss: 2049.27

COPPER

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Daily Commodity Analysis – Oil spikes, gas drops 8%, gold gains, copper challenges.

Introduction

WTI crude oil sees a slight uptick amid rising geopolitical risks in the Middle East, although concerns over demand in China may limit gains ahead of the FOMC. Traders eye the API report on US stockpiles for short-term opportunities. Meanwhile, natural gas experiences its largest daily decline in nearly two weeks due to an outage at Freeport LNG and milder weather forecasts. Gold prices rise as US bond yields fall, fueled by escalating tensions in the Middle East. Investors await cues from the upcoming FOMC meeting. Copper futures, previously boosted by China's monetary stimulus, face pressure amid doubts about its impact on economic challenges in the country.

Markets In Focus Today – CRUDE OIL

WTI Ticks Higher Amid Geopolitical Risks, China Demand Concerns Cap The Upside.

WTI attracts some buyers on Tuesday amid fears about supply disruptions in the Middle East. Demand concerns in China could act as a headwind for the commodity ahead of the FOMC. Traders now look to the API report on US stockpiles for short-term opportunities on Tuesday. West Texas Intermediate (WTI) US Crude Oil prices ticked higher during the Asian session on Tuesday and for now, seem to have stalled the previous day's rejection slide from the 100-day Simple Moving Average (SMA) or a nearly two-month peak. A further escalation of geopolitical tensions in the Middle East continues to fuel supply concerns and turns out to be a key factor acting as a tailwind for the black liquid.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 75.64 | Positive Crossover | Bullish
• MA 20 : 74.61 | Positive Crossover | Bullish
• MA 50 : 74.93 | Positive Crossover | Bullish

Simple :

• MA 10 : 75.38 | Positive Crossover | Bullish
• MA 20 : 73.87 | Positive Crossover | Bullish
• MA 50 : 73.60 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.37 | Buy Zone | Bullish

Stochastic Oscillator : 81.10 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 75.38 R2 : 77.52
• S1 : 68.47 S2 : 66.33

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 75.64 | Take Profit: 79.00 | Stop Loss: 73.58

NATURAL GAS

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Daily Commodity Analysis – Deciphering global markets amid tensions and uncertainties.

Introduction

Oil prices decline on weak China data, impacting demand sentiment. Despite this, they are poised for their first monthly gain since September due to escalating Middle East conflicts causing supply concerns. Meanwhile, positive IMF forecasts boost crude oil prospects. In other markets, corn futures fall on weak demand outlook, and gold and silver prices respond to geopolitical tensions and await the US Federal Reserve's interest rate decision for further direction.

Markets In Focus Today – BRENT CRUDE OIL

Oil Falls On Weak China Data; Set For First Monthly Gain Since Sept.

Oil fell on Wednesday as lackluster economic data in China, the world's biggest crude importer, weighed on demand sentiment, but prices were set for their first monthly gain since September as broadening Middle East conflicts raised supply concerns. Crude oil prices may experience a positive impact following the recent update on global economic growth by the International Monetary Fund (IMF). The IMF has revised its forecast, indicating expectations of stronger growth, particularly in the economies of the United States and China.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 81.29 | Positive Crossover | Bullish
• MA 20 : 80.19 | Positive Crossover | Bullish
• MA 50 : 80.11 | Positive Crossover | Bullish

Simple :

• MA 10 : 81.07 | Positive Crossover | Bullish
• MA 20 : 79.42 | Positive Crossover | Bullish
• MA 50 : 78.79 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.63 | Buy Zone | Bullish

Stochastic Oscillator : 78.74 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 80.60 R2 : 82.82
• S1 : 73.40 S2 : 71.18

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 81.15 | Take Profit: 83.99 | Stop Loss: 79.50

CORN

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Daily Commodity Analysis – Explore gold defiance, copper's challenge, oil rally, and gas amid the turmoil.

Introduction

Gold prices defy a Fed stance on prolonged higher interest rates, gaining ground amid safe-haven demand fueled by Middle East tensions. The precious metal's ascent is tempered by a resurgent dollar. In contrast, copper retreated from a one-month peak, impacted by mixed signals from China's economic outlook. Oil prices rise as the U.S. Federal Reserve hints at potential rate cuts and China unveils measures to support its property market. Natural gas futures see modest gains despite bearish weather forecasts and lower industrial demand attributed to a Freeport LNG outage.

Markets In Focus Today – GOLD

Gold Prices Rise Even As Fed Shoots Down Early Rate-Cut Hopes.

Gold prices rose on Thursday and were undeterred by the Federal Reserve stating that it will likely keep interest rates higher for longer, while safe-haven buying amid an ongoing conflict in the Middle East also aided the yellow metal. The Fed's comments spurred a sharp reversal in risk-driven markets, particularly stocks, on Wednesday. This in turn fueled increased safe-haven demand for gold. The yellow metal was also aided by increased demand as a conflict between U.S.-led forces and the Yemen-based Houthi Group worsened. Further gains in the yellow metal were held back by a sharp rebound in the dollar, which traded close to seven-week highs.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2032.12 | Positive Crossover | Bullish
• MA 20 : 2031.90 | Positive Crossover | Bullish
• MA 50 : 2022.44 | Positive Crossover | Bullish

Simple :

• MA 10 : 2028.32 | Positive Crossover | Bullish
• MA 20 : 2029.97 | Positive Crossover | Bullish
• MA 50 : 2033.75 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.73 | Buy Zone | Bullish

Stochastic Oscillator : 63.81 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 2069.38 R2 : 2087.55
• S1 : 2010.57 S2 : 1992.40

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 2037.55 | Take Profit: 2057.85 | Stop Loss: 2024.77

COPPER

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Daily Commodity Analysis – Gas, Corn Soar, Oil Rises, Gold Steady.

Introduction

U.S. natural gas futures are on the rise as the market anticipates the Energy Information Administration's (EIA) storage report, expected to reveal a significant draw. Projections suggest a draw of approximately -200 to -203 billion cubic feet (Bcf), surpassing the five-year average. Mild weather conditions contribute to lower gas demand, creating volatility in the market. In other commodities, corn futures see midweek gains, while oil prices rise after OPEC+ maintains current output policies. Gold prices remain steady at $2,050, benefiting from a weakened dollar ahead of the nonfarm payrolls data release.

Markets In Focus Today – NATURAL GAS

Natural Gas Futures Edge Up Ahead Of EIA Report.

EIA report likely shows natural gas storage draw amid low demand and production downturn due to Freeport LNG issues. EIA report to reveal significant natural gas storage draw. Mild U.S. weather patterns lead to low gas demand. U.S. natural gas futures are experiencing an uptick as the market braces for the Energy Information Administration's (EIA) weekly storage report. Expected volatility surrounds the report, with predictions pointing to a significant draw of around -200 to -203 billion cubic feet (Bcf), exceeding the five-year average of -185 Bcf. Contributing factors include varied temperatures across the U.S., with warmer conditions in the west and east and cooler temperatures from the Plains to Texas.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2.36 | Negative Crossover | Bearish
• MA 20 : 2.47 | Negative Crossover | Bearish
• MA 50 : 2.57 | Negative Crossover | Bearish

Simple :

• MA 10 : 2.35 | Negative Crossover | Bearish
• MA 20 : 2.60 | Negative Crossover | Bearish
• MA 50 : 2.53 | Negative Crossover | Bearish

RSI (Relative Strength Index): 36.41 | Sell Zone | Bearish

Stochastic Oscillator : 5.74 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 3.07 R2 : 3.33
• S1 : 2.20 S2 : 1.93

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 2.20 | Take Profit: 2.01 | Stop Loss: 2.34

CORN

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Weekly Commodity Analysis – Oil, gas, gold turmoil, silver rises.

Introduction

Oil prices face a weekly decline, influenced by hopes for a Gaza ceasefire and a stronger dollar, eroding the supply risks premium. Natural gas experiences a decline due to a storage draw falling short of demand, impacted by mild weather predictions. Gold slumps below $2,040 as upbeat US Nonfarm Payrolls lift Treasury yields, affecting XAU/USD. Meanwhile, silver rose over 1% to $23.17, supported by central bank decisions and declining global bond yields.

Markets In Focus Today – BRENT CRUDE OIL

Oil Prices In Weekly Slump As Gaza Ceasefire Hopes, Stronger Dollar Bite.

Oil prices fell Friday, to end the week deep in the red as growing optimism over an extended ceasefire in the Israel-Hamas war cooled the supply risks premium baked into prices. Faltering growth in China and the possibility of some easing of tensions in the Middle East also reduced prices. High-interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the eurozone appear to be here to stay in the near term. A stronger dollar makes oil, priced in the U.S. dollars, more expensive and less attractive to foreign buyers.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 80.00 | Negative Crossover | Bearish
• MA 20 : 79.67 | Negative Crossover | Bearish
• MA 50 : 79.89 | Negative Crossover | Bearish

Simple :

• MA 10 : 80.76 | Negative Crossover | Bearish
• MA 20 : 79.32 | Negative Crossover | Bearish
• MA 50 : 78.60 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.65 | Neutral Zone | Neutral

Stochastic Oscillator : 31.58 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 83.35 R2 : 85.56
• S1 : 76.22 S2 : 74.01

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 78.31 | Take Profit: 75.73 | Stop Loss: 80.06

NATURAL GAS

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Daily Commodity Analysis – Oil surges, gas constraints, gold slides, copper boosted.

Introduction

Oil prices rose on Monday as the US plans additional strikes in the Middle East, while Ukrainian drones hit Russia's largest refinery. The rebound follows last week's 7% drop, driven by stronger US jobs data and progress in Israel-Hamas ceasefire talks. Concerns about the Middle East conflict persist, impacting oil markets. In the natural gas sector, withdrawals from storage fell short of demand, with expectations of a reversal due to mild weather. Gold prices slide as the dollar surges, fueled by reduced rate-cut expectations. Copper sees a slight rise amid supply concerns in Chile, the world's top copper producer.

Markets In Focus Today – BRENT CRUDE OIL

Oil Inches Up As US Plans More Strikes In Mideast, Ukraine Hits Russian Refinery.

Oil prices nudged higher on Monday, recovering from sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and as Ukrainian drones struck southern Russia's largest refinery. Both benchmarks ended last week down about 7%. They fell 2% on Friday after stronger-than-expected U.S. jobs data suggested interest rate cuts could be further out than expected and on progress in ceasefire negotiations between Israel and Hamas. Investors remained wary of any escalation in the Middle East conflict after the U.S. signaled further strikes on Iran-backed groups in the Middle East in response to a deadly attack on U.S. troops in Jordan.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 79.49 | Negative Crossover | Bearish
• MA 20 : 79.43 | Negative Crossover | Bearish
• MA 50 : 79.79 | Negative Crossover | Bearish

Simple :

• MA 10 : 80.49 | Negative Crossover | Bearish
• MA 20 : 79.37 | Negative Crossover | Bearish
• MA 50 : 78.52 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.02 | Neutral Zone | Neutral

Stochastic Oscillator : 17.15 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 83.36 R2 : 85.57
• S1 : 76.22 S2 : 74.02

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 76.99 | Take Profit: 74.82 | Stop Loss: 78.59

NATURAL GAS

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Daily Commodity Analysis – Crude up, Silver down, Gold eyes $2,000.

Introduction

WTI crude oil prices hover around $72.90 amid ongoing tensions in the Middle East. The US Dollar's slight decline supports the uptick, but concerns about global supply disruptions due to Middle East tensions and Russia's actions in Ukraine may limit the downside. Gold steadies near $2,000 as the dollar rally pauses, with the near-term outlook influenced by worries about prolonged US interest rates. Corn futures show mixed midday movement, rebounding from earlier weakness. Meanwhile, silver (XAG/USD) hit a two-week low at $22.25, dropping over 1.40%, impacted by rising US Treasury yields and Powell's hawkish stance on interest rates.

Markets In Focus Today – CRUDE OIL

WTI Recovers Some Lost Ground Near $73.00 Amid Ongoing Middle East Tension.

WTI prices attract some buyers near $72.90 amid the ongoing Middle East tension. The upbeat US economic data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer. The US launched retaliatory airstrikes on Friday against Iran's Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.90 on Tuesday. WTI prices edge higher on the modest decline of US dollars (USD). The downside of WTI prices might be capped by concerns that tensions in the Middle East and Russia's ongoing invasion of Ukraine could curb global supplies.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 74.2361 | Negative Crossover | Bearish
• MA 20 : 74.2010 | Negative Crossover | Bearish
• MA 50 : 74.7017 | Negative Crossover | Bearish

Simple :

• MA 10 : 75.3019 | Negative Crossover | Bearish
• MA 20 : 74.1892 | Negative Crossover | Bearish
• MA 50 : 73.3012 | Negative Crossover | Bearish

RSI (Relative Strength Index): 45.8300 | Neutral Zone | Neutral

Stochastic Oscillator : 22.3991 | Sell Zone | Positive

Resistance And Support Levels :

• R1 : 78.6054 R2 : 80.9659
• S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 73.59 | Take Profit: 71.40 | Stop Loss: 75.09

GOLD

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Daily Commodity Analysis – gold, oil, investment trends.

Introduction

Gold prices remain range-bound amid persistent fears of a rate cut. Despite a slight relief as the dollar retreats from three-month highs, uncertainties loom due to diminished expectations of early U.S. interest rate adjustments. Bullion faces pressure from bets on prolonged higher interest rates, influenced by robust U.S. economic data and hawkish Federal Reserve comments. In the commodities market, copper edges lower ahead of crucial cues from China, impacted by concerns over slowing demand. Oil prices rise for the third consecutive day on lower-than-expected U.S. crude stockpiles, contributing to a balanced 2024 outlook. Natural gas futures slide as warmer weather outweighs potential mid-month cold.

Markets In Focus Today – GOLD

Gold Prices Range Bound As Rate Cut Fears Persist.

Gold prices moved little on Wednesday but saw some relief as the dollar eased from three-month highs, although waning bets on early U.S. interest rate cuts kept the outlook for the yellow metal uncertain. Bullion prices were battered by bets on higher-for-longer interest rates, especially following a slew of strong U.S. economic readings and hawkish comments from Federal Reserve officials. The dollar and U.S. Treasury yields had surged on these signals. While the dollar fell slightly from three-month highs on Wednesday, the greenback was still sitting on strong gains so far in 2024.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2033.6296 | Negative Crossover | Bearish
• MA 20 : 2033.0816 | Negative Crossover | Bearish
• MA 50 : 2024.4301 | Positive Crossover | Bullish

Simple :

• MA 10 : 2033.5021 | Negative Crossover | Bearish
• MA 20 : 2030.8546 | Positive Crossover | Bullish
• MA 50 : 2034.6432 | Negative Crossover | Bearish

RSI (Relative Strength Index): 50.1219 | Buy Zone | Bullish

Stochastic Oscillator : 42.6026 | Neutral Zone | Positive

Resistance And Support Levels :

• R1 : 2069.3814 R2 : 2087.5486
• S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 2036.80 | Take Profit: 2057.10 | Stop Loss: 2024.01

COPPER

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[Tushar_CSFX72]

Daily Commodity Analysis – WTI up, corn down, Fed awaits.

Introduction

WTI oil price hovers around $74.20 per barrel, maintaining a positive bias after Israel rejects a ceasefire offer from Hamas. Crude oil prices are expected to continue their winning streak, supported by geopolitical developments. Meanwhile, gold struggles to gain traction amid uncertainty about the Federal Reserve's rate cut path, keeping traders cautious. Silver faces renewed selling pressure, hitting a two-week low and remaining vulnerable to further declines.

Markets In Focus Today – CRUDE OIL

WTI Hovers Around $74.20 With A Positive Bias After Israel Rejected Hamas's Ceasefire Offer.

WTI price could gain ground as Israel has dismissed Hamas' offer for a ceasefire.EIA Crude Oil stockpiles came in at 5.521 million barrels against the expected 1.895 million barrels. The largest US oilfield, the Permian shale basin, is projected to experience its slowest annual growth since 2021. West Texas Intermediate (WTI) oil price hovers around $74.20 per barrel during the Asian session on Thursday. Crude oil prices are expected to continue their winning streak for the fourth consecutive session. WTI price receives upward support as an obstacle emerges on a ceasefire in the Israel-Gaza conflict.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 74.2378 | Negative Crossover | Bearish
• MA 20 : 74.2128 | Negative Crossover | Bearish
• MA 50 : 74.6695 | Negative Crossover | Bearish

Simple :

• MA 10 : 74.9197 | Negative Crossover | Bearish
• MA 20 : 74.4121 | Negative Crossover | Bearish
• MA 50 : 73.2419 | Positive Crossover | Bullish

RSI (Relative Strength Index): 49.7858 | Buy Zone | Bullish

Stochastic Oscillator : 31.3964 | Sell Zone | Positive

Resistance And Support Levels :

• R1 : 78.6054 R2 : 80.9659
• S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 74.53 | Take Profit: 72.35 | Stop Loss: 76.10

CORN

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[Tushar_CSFX72]

Daily Commodity Analysis – Oil rises on geopolitical tensions, gas hits low.

Introduction

Oil remains stable with prospects of weekly gains after Israel rejects a ceasefire offer from Hamas, sustaining tensions in the Middle East. Both Brent and WTI experienced a 3% surge as Israeli forces continued operations. Due to bearish storage reports and unfavorable weather forecasts, natural gas futures hit a more than three-year low. Gold struggles amid uncertainty over aggressive Fed rate cuts, while silver shows recovery but faces technical challenges for sustained gains.

Markets In Focus Today – BRENT CRUDE OIL

Oil Heads For Weekly Gains After Israel Rejects Ceasefire Offer.

Oil prices were little changed on Friday, staying on track for weekly gains, with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas. Both benchmarks rose about 3% in the previous session as Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave The tensions have kept oil prices elevated, with Brent and WTI both set to gain more than 5% for the week.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 80.1468 | Positive Crossover | Bullish
• MA 20 : 79.8148 | Positive Crossover | Bullish
• MA 50 : 79.8974 | Positive Crossover | Bullish

Simple :

• MA 10 : 80.1115 | Positive Crossover | Bullish
• MA 20 : 79.9283 | Positive Crossover | Bullish
• MA 50 : 78.4612 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.5250 | Buy Zone | Neutral

Stochastic Oscillator : 56.4783 | Neutral Zone | Neutral

Resistance And Support Levels :

• R1 : 83.3603 R2 : 85.5650
• S1 : 76.2230 S2 : 74.0183

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 80.89 | Take Profit: 83.41 | Stop Loss: 79.57

NATURAL GAS

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[Tushar_CSFX72]

Weekly Commodity Analysis – Gold falters, silver rises, oil soars.

Introduction

XAU/USD faces a 0.40% dip to $2,025, signaling a bearish sentiment. Despite soft CPI revisions, gold struggles for traction. Daily chart indicators show a bearish bias, while the four-hour chart suggests a consolidation of losses. Attention turns to next week's US CPI figures for market direction. Silver (XAG/USD) sees a modest 0.15% gain, trading at $22.60, influenced by a weaker USD. Silver's potential move toward $23.00 is hinted at, with indications of bottoming out between $22.15-$22.50. Meanwhile, oil prices rise 6% weekly due to Middle East concerns, while natural gas faces a bearish outlook amid ample supply and low demand.

Markets In Focus Today – GOLD

XAU/USD Declines As Bears Gather Traction Ahead Of US CPI.

The XAU/USD retreated to $2,025 on Friday, registering losses of 0.40% on the day. Despite soft CPI revisions, the metal failed to gather traction. Daily chart indicators hint at a bearish bias, with RSI's negative slope and MACD's rising red bars suggesting selling momentum. In the four-hour chart, indicators appear flat hinting at a consolidation of losses. In Friday's session, the XAU/USD was observed at a trading level of $2,025, marking a dip of 0.40%. Focus is set on next week's Consumer Price Index (CPI) figures from January after the US downward revised the December figures, to continue placing their bets on the next Federal Reserve (Fed) decisions.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2032.3019 | Negative Crossover | Bearish
• MA 20 : 2032.5195 | Negative Crossover | Bearish
• MA 50 : 2024.8748 | Negative Crossover | Bearish

Simple :

• MA 10 : 2035.7342 | Negative Crossover | Bearish
• MA 20 : 2030.0041 | Negative Crossover | Bearish
• MA 50 : 2033.6970 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.9072 | Buy Zone | Bullish

Stochastic Oscillator : 38.4197 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 2069.3814 R2 : 2087.5486
• S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Stop Sell: 2022.31 | Take Profit: 1987.13 | Stop Loss: 2043.41

SILVER

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[Tushar_CSFX72]

Daily Commodity Analysis – Gold, Copper, Oil, Natural Gas.

Introduction

Gold prices stagnate around $2,020, grappling with conflicting signals amid hawkish Fed sentiments and positive market sentiment. The USD's defensive stance, driven by Fed rate cut uncertainty, offers support. Traders eagerly await Tuesday's US CPI data for market direction. Meanwhile, Copper faces a downturn on the discovery of a sizable deposit in Zambia, signaling potential oversupply. Oil prices dip as Israel concludes Gaza strikes, alleviating Middle East supply concerns. Natural gas experiences a three-year low due to increased production and policy uncertainties, reflecting a bearish market sentiment.

Markets In Focus Today – GOLD

Gold Price Flat-Lines Amid Mixed Cues, Look To US CPI On Tuesday For Fresh Impetus.

Gold price struggles to lure buyers amid hawkish Fed expectations and the upbeat market mood. The Fed rate cut uncertainty keeps the USD bulls on the defensive and lends support to the metal. Traders await Tuesday's US consumer inflation figures before placing directional bets. Gold price (XAU/USD) kicks off the new week on a subdued note and oscillates in a narrow trading range, just above the $2,020 level during the Asian session. The recent surge in the US Treasury bond yields, bolstered by the upbeat US macro data and hawkish rhetoric from several Federal Reserve (Fed) officials, along with a generally positive risk tone, act as a headwind for the safe-haven precious metal. The downside, however, remains cushioned in the wake of a softer US Dollar (USD), which tends to benefit the USD-denominated commodity.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2030.6821 | Negative Crossover | Bearish
• MA 20 : 2031.6503 | Negative Crossover | Bearish
• MA 50 : 2024.8167 | Negative Crossover | Bearish

Simple :

• MA 10 : 2034.7780 | Negative Crossover | Bearish
• MA 20 : 2028.4637 | Negative Crossover | Bearish
• MA 50 : 2033.5879 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.5022 | Buy Zone | Bullish

Stochastic Oscillator : 31.6536 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 2069.3814 R2 : 2087.5486
• S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Stop Sell: 2022.73 | Take Profit: 2001.46 | Stop Loss: 2036.41

COPPER

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[Tushar_CSFX72]

Daily Commodity Analysis – WTI, Corn surge, Gold, and Silver await.

Introduction

WTI oil prices surge towards $77.00 amid escalating Middle East tensions, fueled by Houthi strikes on a ship. Geopolitical concerns in the Israel-Hamas conflict heighten supply disruption fears. Meanwhile, US shale production may increase by 20,000 bpd in March. In the agriculture sector, corn closes higher, supported by increased weekly shipments, while gold and silver prices remain steady, awaiting US inflation data for rate cues.

Markets In Focus Today – CRUDE OIL

WTI Rises Towards $77.00 On Escalated Middle East Tension, Houthi Strikes At A Ship.

WTI price extends its gains on a threat of supply disruptions due to the Israel-Hamas conflict. Yemen's Houthi rebels launched missiles at a ship headed for a port in Iran. US top shale-producing regions could increase output by 20,000 bpd to 9.7 million bpd in March. West Texas Intermediate (WTI) oil price extends its winning streak initiated on February 5, buoyed by heightened geopolitical tension in the Middle East. The price of Crude oil climbs towards $77.00 per barrel during the Asian session on Tuesday. Yemen's Houthi rebels reportedly launched missiles at a ship headed for a port in Iran, resulting in minor damage to the vessel but no injuries to its crew, according to authorities.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 75.6741 | Positive Crossover | Bullish
• MA 20 : 75.0692 | Positive Crossover | Bullish
• MA 50 : 74.9993 | Positive Crossover | Bullish

Simple :

• MA 10 : 74.9310 | Positive Crossover | Bullish
• MA 20 : 75.2041 | Positive Crossover | Bullish
• MA 50 : 73.3472 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.0643 | Buy Zone | Bullish

Stochastic Oscillator : 69.4536 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 78.6054 R2 : 80.9659
• S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 76.69 | Take Profit: 79.03 | Stop Loss: 75.49

Wheat Futures

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[Tushar_CSFX72]

Daily Commodity Analysis – Gold down, Copper crisis, Oil up, Gas struggles.

Introduction

"As Gold struggles near a two-month low, the stronger-than-expected US CPI data diminishes hopes of a Fed rate cut, keeping the precious metal below $2,000. Meanwhile, copper faces pressure from a stronger dollar and concerns over slowing economic growth, exacerbated by a massive deposit discovery in Zambia. Oil prices rise on positive demand forecasts, while natural gas languishes due to warmer weather predictions reducing heating demand."

Markets In Focus Today – Gold

Gold Price Struggles Near Two-Month Low As Hot US CPI Temper Fed Rate Cut Bets.

Gold price hits a fresh two-month low amid bets that the Fed will keep rates higher for longer. The expectations were reaffirmed by the stronger-than-expected US CPI released on Tuesday. A softer risk tone lends support to the safe-haven XAU/USD and helps limit any further losses. Gold price (XAU/USD) continues with its struggle to attract buyers and languishes below the $2,000 psychological mark, or a two-month low through the early European session on Monday. The stronger-than-expected US consumer inflation report released on Tuesday reaffirmed market expectations that the Federal Reserve (Fed) will keep interest rates higher for longer. This, in turn, is seen undermining the non-yielding yellow metal, though a combination of factors lends some support and helps limit the downside.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2017.0634 | Negative Crossover | Bearish
• MA 20 : 2023.9850 | Negative Crossover | Bearish
• MA 50 : 2022.0886 | Negative Crossover | Bearish

Simple :

• MA 10 : 2025.0466 | Negative Crossover | Bearish
• MA 20 : 2025.6890 | Negative Crossover | Bearish
• MA 50 : 2032.2712 | Negative Crossover | Bearish

RSI (Relative Strength Index): 35.7932 | Sell Zone | Bearish

Stochastic Oscillator : 8.4879 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 2069.3797 R2 : 2087.5470
• S1 : 2010.5670 S2 : 1992.3997

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 1994.62 | Take Profit: 1972.58 | Stop Loss: 2009.82

COPPER

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