Commodities: sell gold and silver

We have had a look at some important commodities and we found something interesting. In step with the increasing optimism for the world economy, many investors appear to be pulling their money out of the assumed safe havens of gold and silver. Gold and silver have triggered sell signals and a further fall is indicated. The American crude light oil price is at a critical level and may soon trigger a sell signal.

 

Gold (GC)

Gold20130510Gold has had a fantastic price development in step with the growing uncertainty following the global financial crisis. In the past two years, the gold price moved sideways. In the middle of April, the price broke down. A strong sell signal was triggered from a big rectangle formation. This indicates that the gold price will enter a falling trend. A further fall is indicated for the gold price.

 

Silver (SI)

Silver20130510Silver has had a price development similar to that of gold. Following a fivefold increase from the autumn of 2008 to the spring of 2011, investors have become more and more negative to silver. The price is now in a long term falling trend channel and has broken down through the earlier support at 27 dollars per ounce. The volume development indicates aggressive sellers forcing the price down. A further fall is indicated.

 

American crude oil light sweet (CL)

CrudeLight20130510The price for American crude oil has risen by over 10 per cent in the past three weeks. The price is approaching resistance at just below 100 dollars. The price has turned down three times in the past year and many investors may want to secure their gains. This can give a reaction down in the short term. However, in the long term the oil price is in a weak rising trend and further rise is indicated. A potential break over 98.50 dollars will trigger a buy signal from a rectangle formation.

Written by

Geir Linløkken
Head of Research and Analysis
at Investtech

Investtech offers analyses of commodities and currencies.

Select your market here for further information.

"Investtech analyses the psychology of the market and gives concrete trading suggestions every day."

Espen Grønstad
Partner & Senior Advisor - Investtech
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

Titlex

OK
+

Cookie consent

We use cookies to give you a better user experience. If you continue to use the website, you accept this. For further details click here.

Our use of cookies

When you use our website, we store a cookie on your device. The cookie is used to recognize your device so that your settings work when you use our websites. The information that is stored is completely anonymised. Cookies are automatically deleted after a certain time.

Necessary cookies

Investtech uses cookies to ensure basic functions such as page navigation and language selection. Without such cookies, the website does not function as it should. You cannot therefore make a reservation against these. If you still want to disable such cookies you can do so in your browser settings. In the Cookies section add this website to the list of sites which are not allowed to save cookies on your device.

Cookies from Google

We use services from Google Analytics and Google AdWords. These register cookies on your device when you visit our website. Google registers your IP address in order to keep statistics on user activity on the website. The IP address is anonymised, so that we have no opportunity to link the activities to a specific person. We use these statistics to be able to offer more interesting content on the website and to constantly improve ourselves. Google AdWords collects data so that our advertising on other websites gives better results. We cannot trace the data of individuals.

Allow cookies from Google