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Commodities and Energy Markets

Bitcoin Bull Run Surpasses $1000

Bitcoin has crossed the $1,000 mark by a healthy margin now, and looks to challenge the previous all time high of $1,216. $1,000 is a psychological line more than a barrier of resistance, which saw bitcoin reject the $980 level multiple times before finally giving way. Like all previous resistance levels, $980 succumbed after a small period of consolidation. Looking ...

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Platinum on Verge of Downside Breakout

The first commodity chart pattern for this year is the descending triangle that can be seen on the four-hour chart of the platinum price. It is a consolidation of the long-term downtrend lasting since August 2016. The current formation is more than two weeks long, which is quite a long time for an H4 chart. On the chart screenshot below, you can see the triangle delimited with the yellow lines. The cyan line is the proposed entry...

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Commodities Technical Analysis, January 2nd — January 6th

The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver and Copper as traded on spot market as of January 1st, 2017: Crude Oil Indicators Moving Averages RSI Parabolic SAR CCI Long Neutral Long Neutral Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 51.75 52.38 53.07 53.70 54.39 55.02 55.71 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st ...

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Bitcoin Faces Familiar Resistance Level

The end of the year has seen Bitcoin broaching the $1,000 level for only the second time in its existence. Bitcoin reached its all time high of $1216 a over three years ago, facing the last level of resistance prior to crossing $1,000 at $980. That same level is now being tested again, and is proving to be resilient. The TradingView chart below shows that $980 was tested and rejected soundly...

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Bitcoin Momentum Strong Heading into 2017

A tumultuous 2016 may be winding down, but Bitcoin’s massive 2016 run shows no sign of slowing. Bitcoin has crossed the $15 billion dollar line in market cap, setting an all time high. As reported by Bloomberg, Bitcoin raced past every other currency in 2016, gaining 79%. The sheer strength of this move flies against conventional reasoning for bull runs in bitcoin. The US Stock Market is sitting at all time...

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Gold’s Consolidation Results in Bearish Pennant Pattern

Prices for gold were falling sharply since the beginning of November but have entered a consolidation mode several days ago. That created a bearish pennant pattern on the daily chart of the commodity. As the name “bearish” suggests, the pattern forecasts continuation of downward move after the consolidation period. The pattern itself is shown on the present chart by the yellow lines. The cyan line ...

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Commodities Technical Analysis, December 26th — December 30th

The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver and Copper as traded on spot market as of December 25th, 2016: Crude Oil Indicators Moving Averages RSI Parabolic SAR CCI Long Neutral Long Neutral Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 49.46 50.48 51.75 52.77 54.04 55.06 56.33 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res...

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