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You are here: Home / Tuseday Jan 13th – Gold, Silver & Oil Swing Trading Update / Gold ETF Analysis / Tuseday Jan 13th – Gold, Silver & Oil Swing Trading Update
Gold ETF Analysis, Oil ETF Analysis, Silver ETF Analysis

Tuseday Jan 13th – Gold, Silver & Oil Swing Trading Update

PRECIOUS METALS 

METALS: February gold futures closed down $35.50 at $819.50 today. Prices closed near the session low, hit a fresh four-week low and saw a bearish downside “breakout” from a trading range on the daily chart. Bearish “outside markets”–lower crude oil prices and a firmer U.S. dollar–did pressure the gold market today. Near-term chart damage was inflicted today.

March silver futures closed down 73.0 cents at $10.59 an ounce today. Prices closed near the session low and hit a fresh three-week low today. Bearish “outside markets”–lower crude oil prices and a firmer U.S. dollar–did pressure the market today. A 2.5-month-old choppy uptrend on the daily bar chart was penetrated on the downside today.

ENERGY MARKETS

ENERGIES: February crude oil closed down $3.07 at $37.76 a barrel today. Prices closed near the session low and hit a fresh two-week low today, amid a firmer U.S. dollar and more recent dour world economic data that suggests less demand for energy worldwide. Bears still have the overall near-term technical advantage and have regained downside momentum recently. Prices remain in a six-month-old downtrend on the daily bar chart.

Special Gold, Silver & Crude Oil Trading Report:
http://www.thegoldandoilguy.com/SwingTradingGoldSilverOilNewsletterJan11.php 

Chris Vermeulen

January 13, 2009/by admin
Tags: Gold Newsletter, Gold Trading, Oil Newsletter, Silver Newsletter, Swing Trading Gold, Swing Trading Oil, Swing Trading Silver
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