In the midst of Osama Bin Laden’s death, there were strong market reactions on Monday. It would seem that the 13% plunge of Silver on Monday trading to $42.20 an ounce earlier was the effect of the news. Sadly, this is only the partial trigger. Monday was the first full session after the increase in margin requirements. Initial margin requirements…
Tag: Commodities Market
Osama Bin Laden is dead – How will Silver, Gold and Oil prices react? | Financial Review | Stocks & Commodities
On 2nd May 2011, one day after Singapore Labor Day, US President Obama officially announced that Osama Bin Laden was killed in a joint raid overnight Sunday in Pakistan’s northwestern district of Abbottabad, some 40 miles from Islamabad. The town also is home to a Pakistani military academy. Two American helicopters took part in the operation, the official said. One Pakistani…
Gold prices soar with the weakening of USD | Technical Analysis | Commodities
As we see the USD index depreciating to 3 years low against other major currency, it is no surprise that USD pegged commodities saw significant uptrend. Of greater interest is Gold. Earlier in the month when I last posted my analysis when Gold started to forma consolidating wedge with resistance around $1440, there were signs of bearish divergences in RSI,…
Technical Analysis of Crude Oil, Gold | Commodity Prices | CBOT, CME, NYBOT
Political & economic situations should see some light of stability in coming week. Apart from movements in global stock markets, futures market should see further price swings. More importantly, there will be important US economic data to be released this coming week: – Jobless Claims (Thurs)– GDP, Consumer Sentiment (Fri) CRUDE OIL Crude oil has breakout of $93 and since…
Gold / Light Crude Oil – Further strength amidst uncertainty in Egypt – Commodities
Unrest in North Africa (Libya) and the Middle East (Egypt) has sent uncertainties in investors prompting them to look once again in safe haven via commodities – Gold & Oil. Particularly for Gold, with the formation of bullish piercing reversal formation during early Feb 2011, the prices have reversed from the lows of US$1300 to now $1380+. It is poised…