Daily Commodity Analysis By Capital Street fx

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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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Daily Crypto Analysis – Crypto markets uncertain amid inflation fears.​

Introduction​

“Bitcoin’s brief ascent to the $50,000 milestone faces challenges as US CPI inflation data points to persistent inflationary pressure, triggering potential price drops. Ethereum eyes a 10% gain, but caution emerges with signs of falling momentum. Ripple reveals crypto custody plans amidst XRP’s sideways trading, while Chainlink hits a one-year high above $20 fueled by increased DeFi adoption and network activity.”

Markets In Focus Today – BITCOIN​

Bitcoin Price $50,000 Milestone Short-Lived As US CPI Inflation Signals Persistent Inflationary Pressure.​

Bitcoin price shocked the market, hitting the $50,000 milestone after two years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher high above the $50,368 range would invalidate the bearish thesis, bringing $60,000 into focus. US CPI inflation in January printed at 3.1% every year, above the 2.9% market expectation. Bitcoin’s (BTC) price has repelled the $50,000 milestone. The retraction follows the US CPI inflation data, which signaled persistent inflationary pressures.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 47621.5930 | Positive Crossover | Bullish
• MA 20 : 45776.7299 | Positive Crossover | Bullish
• MA 50 : 43799.5841 | Positive Crossover | Bullish

Simple :​

• MA 10 : 46911.3480 | Positive Crossover | Bullish
• MA 20 : 44804.1700 | Positive Crossover | Bullish
• MA 50 : 43733.3678 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.4816 | Buy Zone | Bullish

Stochastic Oscillator : 94.2667 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 50011.09 | Take Profit: 51626.22 | Stop Loss: 49008.60

ETHEREUM​

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[capitalstreetfx060]

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 :​

1024×342 73.8 KB

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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[Tushar_csfx72]

Daily Commodity Analysis – oil dives, corn lows, gold reacts to bonds.​

Introduction​

WTI faces renewed selling pressure, hovering around $76.00 amid a second consecutive day of retreats. Despite geopolitical risks, a surge in US inventories weighs on oil prices, while OPEC’s positive global demand outlook fails to provide support. In the corn market, futures hit new lows, influenced by a red trading session and ethanol-related data. Gold prices tick higher due to sliding US bond yields and geopolitical tensions, while Silver stabilizes above $22, awaiting guidance from US Retail Sales data. Federal Reserve comments suggest a hesitant stance on rate cuts, impacting precious metals.

Markets In Focus Today – Crude OIL​

WTI Retreats Further From The Monthly Peak And Seems Vulnerable Near The $76.00 Mark.​

WTI remains under some selling pressure for the second straight day on Thursday. A spike in US inventories overshadows geopolitical risks and weighs on Oil prices. The OPEC sees a rise in global demand in 2024, and 2025, albeit fails to lend support. West Texas Intermediate (WTI) US Crude Oil prices extend the overnight pullback from the vicinity of mid-$78.00s, or a fresh monthly peak and drift lower for the second successive day on Thursday. The commodity hovers around the $76.00 mark during the Asian session and remains well within the striking distance of the weekly low touched on Monday.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 75.9666 | Positive Crossover | Bullish
• MA 20 : 75.3486 | Positive Crossover | Bullish
• MA 50 : 75.1257 | Positive Crossover | Bullish

Simple :​

• MA 10 : 75.2912 | Positive Crossover | Bullish
• MA 20 : 75.5299 | Positive Crossover | Bullish
• MA 50 : 73.5075 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.0784 | Buy Zone | Bullish

Stochastic Oscillator : 68.9884 | Buy Zone | Negative

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 : 75.62 | Take Profit: 78.29 | Stop Loss: 74.13

CORN​

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Daily Crypto Analysis – Bitcoin hits $52K, Ethereum eyes $3K.​

Introduction​

Bitcoin marks a new range high, surpassing $50,000 and reaching $52,043, while SEC Chair Gary Gensler emphasizes the economic distinctions between BTC and the US Dollar. BTC’s upward momentum may lead to a 5% climb to $55,000, with bulls dominating the market. Ethereum (ETH) eyes a 7% surge to $3,000 if it maintains bullish momentum. XRP hits $0.5590 amid Bitcoin’s rally, with increased trade volume and a pro-Ripple response to Gensler’s comments. Dogecoin (DOGE) experiences a 7.5% surge, reclaiming its top 10 position, and surpassing Chainlink in market capitalization.

Markets In Focus Today – BITCOIN​

Bitcoin Price Posts A New Range High As Gensler Details The Economic Difference Between BTC And The US Dollar.​

Bitcoin price put the $50,000 milestone behind it after recording an intraday high of $52,043 on Wednesday.BTC could extend the climb by 5% to $55,000 amid rising momentum and a strong presence of bulls in the BTC market. The bullish thesis will be invalidated if the apex crypto breaks and closes below $45,554.Appearing on CNBC, SEC Chair Gary Gensler said Bitcoin is not decentralized, calling it a token of choice for ransomware. Bitcoin’s (BTC) price remains northbound, pushing to higher highs as holders keep their profit appetite in check. Meanwhile, Gary Gensler has drawn a line separating BTC from other currencies.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 48578.2931 | Positive Crossover | Bullish
• MA 20 : 46458.6635 | Positive Crossover | Bullish
• MA 50 : 44159.2752 | Positive Crossover | Bullish

Simple :​

• MA 10 : 47943.0210 | Positive Crossover | Bullish
• MA 20 : 45361.2990 | Positive Crossover | Bullish
• MA 50 : 43923.6724 | Positive Crossover | Bullish

RSI (Relative Strength Index): 82.3780 | Buy Zone | Bullish

Stochastic Oscillator : 96.4489 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 50489.36 | Take Profit: 53470.55 | Stop Loss: 48863.25

ETHEREUM​

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[capitalstreetfx060]

Daily Commodity Analysis – Global uncertainty hits WTI, Natural Gas, Gold, Copper.​

Introduction​

WTI crude oil faces indecision below $74.00, struggling to extend a two-day uptrend amid mixed fundamentals. Positive demand outlook and Middle East supply worries offer support. Natural gas futures decline for a third day due to warmer weather forecasts and smaller-than-expected withdrawals. Gold remains subdued amidst uncertainty over Fed rate cuts and elevated US bond yields. Copper prices feel the pressure from China’s economic weakness, adding to concerns about softened demand in 2024, especially in the electric vehicle sector. Market movements hinge on global economic dynamics and geopolitical tensions.

Markets In Focus Today – CRUDE OIL​

WTI Lacks Firm Intraday Direction, Remains Below $74.00 Mark Amid Mixed Fundamental Cues.​

WTI Oil prices struggle to attract follow-through buying and consolidate during the Asian session on Friday. Optimistic demand forecasts and concerns over disruptions in Middle East supplies lend support to Oil prices. West Texas Intermediate (WTI) US Crude Oil prices struggle to build on a two-day-old uptrend and oscillate in a narrow trading band during the Asian session on Friday. The commodity remains below the $74.00/barrel mark, though remains on track to register modest weekly gains in the wake of optimistic demand forecasts. Meanwhile, concerns over disruptions in Middle East supplies remained in play as the US-led forces continue to clash with the Iran-backed Houthi group in the Red Sea.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 72.97 | Positive Crossover | Bullish
• MA 20 : 72.86 | Positive Crossover | Bullish
• MA 50 : 74.52 | Negative Crossover | Bearish

Simple :​

• MA 10 : 72.54 | Positive Crossover | Bullish
• MA 20 : 72.75 | Positive Crossover | Bullish
• MA 50 : 73.64 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 54.25 | Neutral Zone | Neutral

Stochastic Oscillator : 74.37 | Neutral Zone | Neutral

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 : 73.81 | Take Profit : 76.40 | Stop Loss : 72.36

NATURAL GAS​

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[Tushar_csfx72]

Daily Commodity Analysis – Monitor oil, gas, gold, and silver.​

Introduction​

Oil prices paused after the International Energy Agency (IEA) issued a forecast indicating slowing demand, contrasting with the optimism sparked by weak U.S. retail sales data hinting at potential Federal Reserve interest rate cuts. The IEA’s report projects a slight reduction in global oil demand growth, while OPEC maintains a more optimistic outlook. Natural gas prices reach a new trend low of 1.57, reflecting prolonged bearish sentiment. Gold prices hover around $2,000 following weak U.S. retail sales, still facing weekly losses. Silver experiences a 2.50% surge as lower US bond yields increase its appeal.

Markets In Focus Today – Brent Crude Oil​

Oil Flat As Weaker IEA Outlook Weighs On US Rate Cut Hopes.​

Oil prices stalled on Friday over a forecast of slowing demand by the International Energy Agency after gaining in the previous session on weak U.S. retail sales data that sparked optimism that the Fed might cut interest rates sooner than expected. Both contracts climbed over 1% on Thursday as a larger-than-expected drop in U.S. retail sales prompted hopes the Federal Reserve will soon start cutting interest rates, which could be positive for oil demand. The IEA’s monthly report said it expects global oil demand to grow by 1.22 million barrels per day (bpd) this year, slightly down from last month’s estimate. OPEC on Tuesday stuck to its much steeper growth forecast of 2.25 million bpd.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 81.5247 | Positive Crossover | Bullish
• MA 20 : 80.8005 | Positive Crossover | Bullish
• MA 50 : 80.3363 | Positive Crossover | Bullish

Simple :​

• MA 10 : 81.0777 | Positive Crossover | Bullish
• MA 20 : 80.9204 | Positive Crossover | Bullish
• MA 50 : 78.9141 | Positive Crossover | Bullish

RSI (Relative Strength Index): 57.6771 | Buy Zone | Bullish

Stochastic Oscillator : 76.6559 | Buy Zone | Positive

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: 81.09 | Take Profit: 83.43 | Stop Loss: 79.91

Natural Gas​

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Daily Crypto Analysis – Bitcoin, Ethereum surge amid regulation.​

Introduction​

Bitcoin aims for $55,000 despite an overbought state, targeting a crucial barrier at $53,000 within the ascending parallel channel. A 4% extension to $55,000 is plausible as various technical indicators signal bullish momentum. The bullish scenario hinges on maintaining support above $45,554, while Bitcoin’s adversary acknowledges its role in the inclusive financial system. Meanwhile, Chainlink sustains proximity to its 2024 high, with reduced exchange supply and positive network activity. Ethereum rallies towards $3,000, anticipating potential Ethereum ETF approvals. XRP gains nearly 2%, nearing the $0.60 target, as investors await updates on the SEC v. Ripple lawsuit with the potential to revive the $1 level.

Markets In Focus Today – BITCOIN​

Bitcoin $55,000 In Sight Despite Overbought State As BTC Adversary Turns To Coat.​

Bitcoin price confronts a crucial barrier, the upper boundary of the ascending parallel channel at $53,000.BTC could extend gains 4% to $55,000 as multiple technical indicators flash bullish. The bullish thesis would be invalidated if the price breaks and closes below the $45,554 mean threshold. Bitcoin’s (BTC) price has its eyes peeled on the $55,000 range after clearing the $50K milestone, with investors demonstrating confidence in the continuation of the intertwined BTC adversary has shocked markets with a bold move to acknowledge BTC as a truly inclusive financial system.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 49109.1734 | Positive Crossover | Bullish
• MA 20 : 46935.1059 | Positive Crossover | Bullish
• MA 50 : 44444.6950 | Positive Crossover | Bullish

Simple :​

• MA 10 : 48778.5650 | Positive Crossover | Bullish
• MA 20 : 45820.7650 | Positive Crossover | Bullish
• MA 50 : 44098.8564 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.8229 | Buy Zone | Bullish

Stochastic Oscillator : 93.2464 | Buy Zone | Negative

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 50046.40 | Take Profit: 52736.02 | Stop Loss: 48313.09

CHAINLINK​

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