Daily Archives: September 18, 2014


Comex Commodity Trading Signals and Market News – 18 September 2014


Gold prices fell further in Asia on Thursday as prospects for a Federal Reserve hike in interest rates next year weighed on investors. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,218.00 a troy ounce, down 0.49%, after hitting an overnight session low of $1,228.40 and off a high of $1,239.90. The Federal Reserve said earlier it was leaving its benchmark interest rate unchanged at 0.00-0.25% and added it would likely close its monthly bond-buying program in October. The Fed decided earlier to trim that figure to $15 billion and will likely close it at its Oct. 28-29 meeting.

Oil prices dropped in U.S. trading on Wednesday after a bearish U.S. inventory report offset otherwise bullish news that the OPEC oil cartel is planning to trim output. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded down 1.06% at $92.82 a barrel during U.S. trading. New York-traded oil futures hit a session low of $92.77 a barrel and a high of $94.01 a barrel. The November contract settled up 1.98% at $93.81 a barrel on Tuesday. Nymex oil futures were likely to find support at $89.76 a barrel, Monday’s low, and resistance at $94.12 a barrel, Tuesday’s high.

Natural gas prices posted fresh gains on Wednesday after updated weather-forecasting models called for both warm and cool temperatures that should drive demand for both air conditioning and heating, respectively. futures for delivery in October were up 0.18% at $4.002 per million British thermal units during U.S. trading. The commodity hit a session low of $3.961, and a high of $4.040.The October contract settled up 1.63% on Tuesday to end at $3.Natural gas futures were likely to find support at $3.786 per million British thermal units, Friday’s low, and resistance at $4.078, the high from Sept. 2.

• West Texas Intermediate oil futures were lower on Wednesday, as investors awaited the release of weekly supply data out of the U.S. later in the session to gauge the strength of oil demand from the world’s largest consumer. A day earlier, U.S. oil prices rallied $1.82, or 1.98%, to end at a two-week peak of $93.81 a barrel. Prices traded in a range between $93.44 and $93.88. Futures were likely to find support at $89.76 a barrel, the low from September 15 and resistance at $94.99, the high from September 5. The report also showed that gasoline stockpiles decreased by 1.2 million barrels, while distillate stocks rose by 1.0 million barrels.


  • BUY GOLD ABOVE 1228 TGT 1232,1237 SL 1223
  • SELL GOLD BELOW 1220 TGT 1216,1211 SL 1225

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IForex Market Trading Signals and News of 18 September 2014


  • Forex-Dollar holds steady close to 14-month peak ahead of Fed statement.
  • Forex- EUR/USD little changed after E.Z. inflation data .
  • Forex-GBP/USD edges higher but gains in check .

EUR/USD dipped 0.05% to 1.2957, remaining supported above the 14-month low of 1.2858 reached early last week Eurostat said consumer price inflation rose 0.4% last month, up from a preliminary estimate of 0.3%. Euro zone I Inflation rose by 0.4% in July. The rate remains firmly below the European Central Bank’s target of near but just below 2%Month-over-month, consumer prices inched up 0.1% last month, in line with forecasts and following a 0.7% decline in July Core CPI, which excludes food, energy, alcohol, and tobacco costs rose 0.9% in August, meeting forecasts and unchanged from an initial estimate.

GBP/USD hit 1.6337 during European morning trade, the pair’s highest since September 5; the pair subsequently consolidated at 1.6290, adding 0.10%Cable was likely to find support at 1.6160, Tuesday’s low and resistance at 1.6465, the high of September 4..In a report, the U.K. Office for National Statistics said that the claimant count fell by 37,200 last month, compared to expectations for a decline of 30,000 people. July’s figure was revised to a drop of 37,400 people from a previously reported decline of 33,600The report also showed that the rate of unemployment declined to 6.2% in the three months to July, the lowest level since December 2008, compared to expectations for a reading of 6.3% and down from 6.4% in the three months to June.


1. Buy EUR/USD Above 1.2960-TG:1.2980/1.3010SL 1.2930
2. Sell EUR/USD Below 1.2950-TG:1.2930/1.2900 SL 1.2980

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