Silver prices middle range created during the summer

Silver Price Reacts to Resistance, Bearish Below 17.03

Silver Price |Chart | Calendar   | TRADE NOW | SILVER

Silver| Data | Chart | Calendar | Forecast | News

 

source: tradingeconomics.com
BUZ INVESTORS  Silver Price Reacts Silver increased 0.28 USD/t. oz or 1.72% to 16.86 on Friday May 19 from 16.54 in the previous trading session. Historically, Silver reached an all time high of 49.45 in January of 1980 and a record low of 3.55 in February of 1991.

Silver is expected to trade at 18.00 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 17.40 in 12 months time.

But as long as silver remains below resistance up to 17.03 a bearish bias will remain intact. The January trend-line which was breached and overcome earlier this month was roughly where yesterday’s low was, and so we’ll keep an eye on that as possible support, but it’s not viewed as a significant source of demand. Looking below yesterday’s low at 16.41 the next level of support comes in at the December trend-line, which arrives not far above the monthly low at 16.07.

All-in-all, the stage is set for lower prices, however; US dollar weakness, if pervasive enough, could be the fly in the ointment for shorts should precious metals wake up and once again resume an inverse correlation with any kind of strength. We’re not going to worry about it too much until it actually matters, which lately it hasn’t. Getting back to silver on its own, as said earlier, as long as resistance isn’t overcome we’ll continue to remain in the bear-camp. A move towards the December low at 15.64 could be in store in the coming weeks.




Silver Price Reacts 

Silver

Silver futures and options contracts are used by mining companies, fabricators of finished products, and users of silver-content industrial materials to manage their price risk. As a precious metal, silver also plays a role in investment portfolios. The largest industrial users of silver are the photographic, jewelry, and electronic industries. The biggest producer of silver are: Mexico, Peru and China followed by Australia, Chile, Bolivia, United States, Poland and Russia. This page provides – Silver – actual values, historical data, forecast, chart, statistics, economic calendar and news. Silver – actual data, historical chart and calendar of releases – was last updated on May of 2017.

 

Actual Previous Highest Lowest Dates Unit Frequency
16.86 16.70 49.45 3.55 1975 – 2017 USD/t. oz Daily

 

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Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

EURUSD Bearish confirmation ahead of Draghi’s speech

Chart | Calendar   | TRADE NOW | EURUSD

EURUSD Bearish confirmation ahead of Draghi’s speech

EURUSD

BUZ INVESTORS  EURUSD Bearish confirmation  This morning at 09:40 GMT, the EUR is trading at 1.0866 against the USD, 0.07% lower from the New York close. On the data front, Italy’s seasonally adjusted industrial production advanced more-than-expected in March. This morning, the pair traded at a high of 1.0898 and a low of 1.0863. The Euro traded 0.08% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0874. The pair is expected to its find support at 1.0849 and its first resistance at 1.0895.

Monday’s bearish engulfing candle followed by Tuesday’s drop confirmed a short-term trend reversal in the EUR/USD pair ahead of the ECB President Draghi’s speech.

Draghi will make a speech in the Dutch Parliament at 12:00 GMT. This will be his first speech after the French election.




EURUSD Bearish confirmation  

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Euro Dollar Exchange Rate | Data | Chart | Calendar

The EURUSD decreased 0.0003 or 0.02% to 1.0870 on Wednesday May 10 from 1.0872 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.

Euro Area Markets Last Previous Highest Lowest Unit
Stock Market 3645.24 3649.08 4557.57 1809.98 points [+]
Currency 1.09 1.09 1.87 0.70 [+]
Government Bond 10y -0.45 -0.44 2.57 -0.50 percent [+]

 

Euro Dollar Exchange Rate – EUR/USD Notes

The EURUSD spot exchange rate specifies how much one currency, the EUR, is currently worth in terms of the other, the USD. While the EURUSD spot exchange rate is quoted and exchanged in the same day, the EURUSD forward rate is quoted today but for delivery and payment on a specific future date. This page provides the latest reported value for – Euro Dollar Exchange Rate – EUR/USD – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Dollar Exchange Rate – EUR/USD – actual data, historical chart and calendar of releases – was last updated on May of 2017.

 

Actual Previous Highest Lowest Dates Unit Frequency
1.09 1.09 1.87 0.70 1957 – 2017 Daily

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major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)




Buz Investors XAUUSD Gold Prices Higher Gold prices edged higher on Monday’s session, marking its strongest level in two months as investors are closely watching on the most anticipated speech by British Prime Minister Theresa May and the inauguration of the U.S. President-elect Donald Trump later this week.

Gold Prices Stage Another Bearish Step Down

Gold Prices Stage Another Bearish Step Down

BUZ INVESTORS  Gold Prices Stage Gold is trading at $1266.60 per ounce at 09:40 GMT this morning, 0.14% higher from the New York close.

Gold

BUZ INVESTORS  Gold Prices Stage Gold is trading at $1266.60 per ounce at 09:40 GMT this morning, 0.14% higher from the New York close. This morning, the precious metal traded at a high of $1267.70 per ounce and a low of $1262.30 per ounce. Yesterday, gold traded 0.21% lower in the New York session and closed at $1264.80 per ounce, as strength in global equities dented demand for the precious yellow metal. Immediate downside, the first support level is seen at $1261.53 per ounce, while on the upside, the first resistance level is at $1272.43 per ounce.



Gold Prices Stage

Gold | Data | Chart | Calendar | Forecast | News

Gold decreased 0.16 USD/t oz. or 0.01% to 1,263.20 on Wednesday April 26 from 1,263.36 in the previous trading session. Historically, Gold reached an all time high of 1898.25 in September of 2011 and a record low of 34.83 in January of 1970.

The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE. Gold Futures are available for Trading in the Commodity Exchange (COMEX) which merged with the New York Mercantile exchange in 1994 and became the division responsible for metals trading. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry. However, Gold is not only a precious metal but also a commodity vital for many industries. Gold is an excellent conductor of electricity, is extremely resistant to corrosion, and is one of the most chemically stable of the elements, making it critically important in electronics and other high-tech applications. This page provides – Gold – actual values, historical data, forecast, chart, statistics, economic calendar and news. Gold – actual data, historical chart and calendar of releases – was last updated on April of 2017.

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Buz Investors TECHNICAL ANALYSIS GBPUSD hit a more than seven-week low during yesterday’s trading. At the moment, it is mostly unchanged from the day’s open while price movement has been lacking volatility as well.

TECHNICAL ANALYSIS – GBPUSD BEARISH OUTLOOK AFTER HITTING A MORE THAN SEVEN-WEEK LOW

TECHNICAL ANALYSIS – GBPUSD BEARISH OUTLOOK AFTER HITTING A MORE THAN SEVEN-WEEK LOW

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Buz Investors TECHNICAL ANALYSIS GBPUSD hit a more than seven-week low during yesterday’s trading. At the moment, it is mostly unchanged from the day’s open while price movement has been lacking volatility as well.

The RSI is currently bearish and well below the 50 neutral level at 34. The stochastics are also painting a negative short-term picture, as the %K line is in negative territory as well. Note though that %K is in oversold territory below the 20 mark. This could be a sign that an immediate-term upside movement for the pair is not to be ruled out.




 

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TECHNICAL ANALYSIS

On the upside, the 1.22 handle could serve as a psychological barrier. A break above this level would eye another potential key level that held in the past, namely the 1.23 mark. Further upside moves are expected to meet resistance at the current level of the 50-day moving average (MA) at 1.2384.

On the downside, yesterday’s low of 1.2134 could provide support. Should it fail to hold, focus would shift to the mid-January thirty-two year low of 1.1986, which is expected to serve as an important support level.

Regarding the medium-term outlook, it is bearish as the price is below both the 50-and 200-day MAs and has been trending downwards since the latter part of February.

Overall, the short- and medium-term outlook is bearish.




major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




AUDUSD flirting with 2-month lows

AUDUSD watching for a bearish break

AUDUSD watching for a bearish break

 Buz Investors bearish break The pair is trading at 0.7679 at 10:40 GMT this morning, with the Australian Dollar trading 0.12% higher against US Dollar from the New York close.

AUDUSD

Buz Investors   bearish break The pair is trading at 0.7679 at 10:40 GMT this morning, with the Australian Dollar trading 0.12% higher against US Dollar from the New York close. Going ahead, traders would keep a close watch on Australia’s HIA new home sales data, slated to release overnight. This morning, the pair traded at a high of 0.7707 and a low of 0.7659. The Australian Dollar traded 0.14% lower against the US Dollar in the New York session on Friday, with the pair closing the session at 0.7670. The pair is expected to its find support at 0.7656 and its first resistance at 0.7705.



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 bearish break

  Australia’s HIA new home sales data, slated to release overnight

AUDUSD “We preserve to expect that the eventual smash of the variety will come to the downside, and be aware that the technical indicators did now not verify the new high.

The April light sweet crude oil futures agreement straddled the $54 a barrel degree most of the ultimate week.

the broader near-term range is $53-$55, and it’s far hard to get enthusiastic inner this variety.

even as OPEC has a excessive compliance fee, non-OPEC has less, and US output and exports have extended. on the identical time, the current superior PMI reports factor to strong Q1 for international increase, which means demand.”

 



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




Buz Investors TECHNICAL ANALYSIS USDJPY is currently up from the day’s open, roughly recovering one-fifth of yesterday’s decline in price. Looking at the stochastics, the %K line is in bearish territory. Adding to this negative near-term signal is the fact that it (%K) has crossed below the slow %D line.

TECHNICAL ANALYSIS – USDJPY BEARISH TO NEUTRAL IN THE NEAR-TERM

TECHNICAL ANALYSIS – USDJPY BEARISH TO NEUTRAL IN THE NEAR-TERM

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Buz Investors TECHNICAL ANALYSIS USDJPY is currently up from the day’s open, roughly recovering one-fifth of yesterday’s decline in price.

Looking at the stochastics, the %K line is in bearish territory. Adding to this negative near-term signal is the fact that it (%K) has crossed below the slow %D line. The RSI indicator is theoretically bearish as well, but it is in close proximity to the 50 neutral level at 48. This perhaps indicates that the strength of this short-term bearish signal is not that strong.

 



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TECHNICAL ANALYSIS

The 23.6% Fibonacci retracement level at 114.49 (November 9 – December 15 upleg) is likely to provide some resistance to upside movements in price. Should the price break above it, next immediate resistance would likely come from the current level of the 50-day moving average (MA) at 115.07.

On the downside, the 38.2% Fibonacci at 111.94 is expected to act as support (note that the area just below -around 111.60- was recently tested and managed to hold). If the price moves further below, the 50% Fibonacci would come into scope as another support level.

In the medium-term picture, the pair recorded a bullish (golden) cross in early December when the 50-day MA moved above the 200-day one. However, the price moving below the 50-day MA is setting a more neutral outlook for the pair at the moment.

Overall, the short-term bias is bearish to neutral and the medium-term is neutral.



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




TECHNICAL ANALYSIS – EURGBP NEAR-TERM BEARISH WITH THE STRENGTH OF THE SIGNAL UNDER QUESTION

TECHNICAL ANALYSIS – EURGBP NEAR-TERM BEARISH WITH THE STRENGTH OF THE SIGNAL UNDER QUESTION

 TECHNICAL ANALYSIS – EURGBP NEAR-TERM BEARISH WITH THE STRENGTH OF THE SIGNAL UNDER QUESTION

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Buz Investors TECHNICAL ANALYSIS EURGBP is currently up but little changed relative to yesterday’s close.

The short-term sentiment given by the RSI is negative as the indicator is currently at 46, below the 50 mark distinguishing positive from negative short-term bias. Adding to this, the MACD is slightly negative and below the red signal line. The fact that RSI and MACD are relatively close to 50 and 0 respectively is perhaps indicative that the bearish sentiment is not that strong and that mostly sideways movement in the near-term is also possible.



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TECHNICAL ANALYSIS

On the upside, the 50-day moving-average (MA), currently at 0.8535, comes into view as immediate resistance. A successful break above it would shift focus to a recently congested area, the one around the 0.86 level, as another resistance area.

On the downside, the late January 5-week low of 0.8470 is likely to provide support to down movements in price. Should it be breached, attention would focus to the 200-day MA, currently at 0.8449, as another support mark.

In the medium-term, the price falling below the 50-day MA sets a more neutral outlook for now.

To sum up, the short-term bias is bearish (with technical indicators close to their neutral levels though) and the medium-term is neutral.



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




Buz Investors BBD Stoc:k Bullish The bullish price action on the Bombardier, Inc.(TSE:BBD.B) stock chart has been nothing short of spectacular. It is becoming more and more apparent that the low that Bombardier stock visited in February 2016 was an overshoot, and it is likely that BBD.B

$BBD Stock Bullish, But Still Bearish

Bombardier Stock Is Targeting THIS Important Level

BBD Stoc:k Bullish

Buz Investors BBD Stoc:k Bullish The bullish price action on the Bombardier, Inc.(TSE:BBD.B) stock chart has been nothing short of spectacular. It is becoming more and more apparent that the low that Bombardier stock visited in February 2016 was an overshoot, and it is likely that BBD.B will not be revisiting that level anytime soon.



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BBD Stoc:k Bullish

I have been following BBD.B stock for quite some time and the stock’s ability to meet and exceed my bullish expectations has been exceptional. Since the low that was created on February 8, 2016, at $0.72, bullish price action has dominated the landscape, but there is one caveat. All this bullish price action has been within the confines of a larger bearish trend.

signal to confirm that a bullish trend has begun

When Bombardier stock completed the initial impulse wave off the lows, a golden cross was generated. This bullish signal is produced when the faster 50-day moving average crosses above the slower 200-day moving average. Traders use this signal to confirm that a bullish trend has begun, and therefore their trading strategies favor higher prices.

The completion of the impulse wave initiated a consolidation wave, where overbought conditions were unwound, and Bombardier stock managed to successfully test the 200-day moving average. The 200-day moving average is the dividing line between stocks trading in a bull market versus stocks trading in a bear market. Trading above this moving average is bullish, and trading below it is bearish. Successfully testing this moving average from above serves to reaffirm that the trend is still bullish

 

Major Aerospace Stocks ( Gd )   (NOC ) ( HON ) ( LMT )  ( COL)




Oil prices edge up on OPEC hopes, but doubts linger

Oil Prices Slip On Bearish Inventory Data

Oil Prices Slip On Bearish Inventory Data

Oil

  • Buz Investors Oil Prices Slip On Bearish  The commodity is trading at $52.84 per barrel at 10:40 GMT this morning, 0.19% lower from the New York close.
  • Crude oil witnessed a high of $53.27 per barrel and a low of $52.79 per barrel during the session. In the New York session yesterday, crude oil rose 0.55% to close at $52.94 per barrel. However, gains in crude prices were trimmed, after the EIA disclosed that US crude oil inventories rose by 2.8 million barrels to 488.3 million barrels during the week ended 20 January 2017.
  • Immediate downside, the first support level is seen at $52.44 per barrel, while on the upside, the first resistance level is at $53.35 per barrel.

Oil Prices Slip On Bearish

Buz Investors Oil Prices Slip On Bearish The commodity is trading at $52.84 per barrel at 10:40 GMT this morning, 0.19% lower from the New York close. Crude oil witnessed a high of $53.27 per barrel and a low of $52.79 per barrel during the session. In the New

Oil Prices Slip On Bearish  The strength facts administration mentioned a 2.8-million-barrel build in U.S. business oil inventories, a day after the yank Petroleum Institute estimated the inventories had multiplied by way of 2.93 million barrels, pressuring benchmark fees.

At 488 million barrels, business inventories are inside seasonal limits, although close to the top cease. that is some development on summer 2016, when inventories have been consistently above the maximum for the season. The EIA does not offer reference statistics for average seasonal limits.




 

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Oil Prices Slip On Bearish

Oil rig additions are persevering with across the shale patch, with remaining week seeing the most important seven-day growth in years, via 35 rigs, suggesting nearby output will simplest keep growing, no matter suffering oil charges.
The EIA stated in its file for the week to January 20 that gasoline inventories rose through a hefty 6.eight million barrels last week, with average every day manufacturing at 8.8 million barrels. This become slightly beneath the previous week’s discern, which become 9 million bpd.

Refineries operated at 88.three percent of capability, additionally producing four.6 million barrels of distillate each day, a piece down from the preceding week’s four.7 million bpd.

 

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