top of page

Daily Gold & Oil Trading Signals & Market Forecast: March 14

Gold Trading:

  • Watch for PPI and retail sales data to influence gold prices.

  • High PPI could signal continued inflation, potentially affecting Fed rate decisions.

  • Market's attention is on next week's Fed meeting; steady rates expected.

Oil Trading:

  • Oil prices up with U.S. gasoline stocks at a three-month low and unexpected crude stockpile drops.

  • Geopolitical tension following attacks on Russian refineries adds to supply concerns.

  • U.S. demand strong, as indicated by purchase for Strategic Petroleum Reserve.

  • OPEC+ compliance and geopolitical events remain critical to price direction.



Gold & Oil Trading Signals

  XAU/USD (Gold)  WTI (CL-Oil)  BRENT CRUDE (UKOUSD)  


XAU/USD Gold, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 XAU/USD Gold

Trading Signal for Gold (XAU/USD)

  • Trade Direction: Buy

  • Entry Point: Around the daily pivot point at 2,170.14, if price stabilizes above this level.

  • Take Profit: TP1: 2,180 (near upper Bollinger Band), TP2: 2,190 (above recent high), TP3: Based on the Ichimoku cloud's projection (2,210.86) and further bullish momentum.

  • Stop Loss: Below the lower Bollinger Band at 2,160, to protect against a reversal of the current trend.

  • Confidence Level: Moderate, taking into account current technical indicators and pending economic data release.

Technical Analysis

  • Trend Analysis: Short-term uptrend, as price is above the Ichimoku cloud.

  • Key Levels:

  • Resistance: Watch for reactions near the upper Bollinger Band at 2,190.

  • Support: Daily pivot at 2,170.14 and the lower Bollinger Band around 2,160.

Technical Indicators

  • Bollinger Bands: The price is approaching the upper band, indicating strength but also potential resistance.

  • Ichimoku Cloud: Price above the cloud suggests bullish sentiment in the short term.

  • ATR: 9.58, indicating moderate market volatility.

  • MACD: Histogram shows bearish momentum decreasing, could indicate potential for a bullish reversal if economic data is positive.

  • RSI: At 56.23, near the midpoint, suggesting there's room for upward movement before the market becomes overbought.

Market Sentiment

  • General Sentiment: Cautious but leaning bullish ahead of PPI and retail sales data.

  • Impact on Specific Asset: Data showing high PPI could increase inflation expectations, potentially bullish for gold as a hedge.

  • Notable Economic Events: Today's PPI and retail sales data will likely cause volatility; watch for the market's reaction to these releases for further trading opportunities.

The trading strategy for gold today should remain flexible to adjust rapidly to the actual data released and its impact on market sentiment. Please monitor the market closely around the data release times for any potential shifts in sentiment or price trends.


An advertisement graphic for Vantage, a trading platform, offering a 50% deposit bonus to supersize trades. The visual features an isometric design with an oversized, three-dimensional arrow pointing upwards, indicating growth or increase. There are stacks of coins on the arrow, and a miniature office setup with a computer displaying charts, suggesting trading activity. A "claim now" button is included, highlighting the promotional offer. Trading risks and terms and conditions are noted at the bottom, alongside the VFSC registration number.



WTI Crude Oil, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 WTI Crude Oil (CL-Oil))

Trading Signal for Oil (WTI)

  • Trade Direction: Buy

  • Entry Point: Near the daily pivot point at 79.45, particularly if price action confirms support around this level.

  • Take Profit: TP1: Just below today's high at 79.75, TP2: If bullish momentum continues, watch for a push towards the 80.00 psychological level, TP3: Extend to the next resistance level as determined by market reaction.

  • Stop Loss: Just below the recent low at 78.90, to mitigate the risk if the trend reverses.

  • Confidence Level: Moderate, considering the technical indicators and market fundamentals.

Technical Analysis

  • Trend Analysis: Short-term trend is bullish as price is above Ichimoku cloud.

  • Key Levels:

  • Resistance: The high of the last session at 79.75 and the psychological level of 80.00.

  • Support: The daily pivot point at 79.45 and the previous session's low at 78.90.

Technical Indicators

  • Bollinger Bands: Price is near the upper band, suggesting some resistance but also indicating bullish momentum.

  • Ichimoku Cloud: Price above the cloud is bullish, watch for the cloud as potential support.

  • ATR: 0.642, suggesting lower volatility, tight stop losses may be appropriate.

  • MACD: Positive histogram but lines are converging, suggesting caution.

  • RSI: At 61.65, indicates bullish momentum without being overbought yet.

Market Sentiment

  • General Sentiment: Bullish, supported by recent stockpile drops and geopolitical tensions.

  • Impact on Specific Asset: Current supply concerns and strong U.S. demand suggest continued bullish sentiment for oil.

  • Notable Economic Events: OPEC+ compliance and any new geopolitical developments will be significant for oil prices.

It is advisable to maintain flexibility in your trading approach, reacting promptly to market changes and geopolitical events that can influence oil prices throughout the trading day.


"Promotional banner for Vantage featuring floating currency symbols like the dollar, euro, and yen with upward orange arrows, indicating growth in Forex trading. Includes a 'Trade Now' button and a disclaimer about the risks of trading derivatives."


BRENT CRUDE (OKOUSD)  A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢BRENT CRUDE (UKOUSD)  

Trading Signal for Oil (Brent)

  • Trade Direction: Buy

  • Entry Point: Near the daily pivot point at 82.88 if the price finds support around this level.

  • Take Profit: TP1: Just below today’s high at 84.24, TP2: Next significant resistance level provided by market data, TP3: Adjust based on market momentum and key technical levels.

  • Stop Loss: Set just below the latest swing low at 82.45 to minimize risk.

  • Confidence Level: Moderate, due to positive technical indicators but mindful of potential volatility from economic events.

Technical Analysis

  • Trend Analysis: The short-term trend is sideways to bullish, as indicated by price fluctuation around the Ichimoku cloud.

  • Key Levels:

  • Resistance: Near today's high at 84.24 and upper Bollinger Band at 84.64.

  • Support: Daily pivot point at 82.88 and lower Bollinger Band at 83.06.

Technical Indicators

  • Bollinger Bands: Price consolidating near the upper band suggests potential resistance or breakout.

  • Ichimoku Cloud: Price around the cloud indicates indecision, but the cloud can act as support.

  • ATR: 0.625, which points to moderate market volatility.

  • MACD: Positive histogram suggests bullish momentum but watch for signs of crossover.

  • RSI: At 61.96, there is room for upward movement before being considered overbought.

Market Sentiment

  • General Sentiment: Bullish due to recent market dynamics and stockpile levels.

  • Impact on Specific Asset: Brent could be impacted by the same factors affecting WTI, including U.S. demand and geopolitical tensions.

  • Notable Economic Events: Global geopolitical events and OPEC+ decisions remain pivotal for Brent prices.

Given the current technical setup and market sentiment, staying vigilant and ready to adapt to rapid changes in market conditions due to geopolitical or OPEC+ news is advisable.

 

Disclaimer: These Gold & Oil Trading Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.



As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.

コメント


コメント機能がオフになっています。
bottom of page