Commodities Oil, Gold, and Coffee Trading Update.

Oil Highlights:

  • US Crude Oil inventories increased by 1.3 million barrels
  • Analysts expected  an increase of 1.5 million barrels
  • EIA expects that the Brent crude oil spot price, which averaged $112 per barrel in 2012, will fall to an average of $105 per barrel in 2013 and $99 per barrel in 2014. EIA forecasts non‐OPEC production to increase by 1.4 million bbl/d in 2013 and 1.3 million bbl/d in 2014
  • Most technical indicators are signalling sell

US Crude Oil Chart


Brent Crude Chart


Gold Highlights:

  • Gold is in a downtrend.
  • Demand expected to slow as global economy recovers.
  • Most gold companies are trading lower.
  • Japanese pension funds will double their gold holdings in the next two years. Most probably will increase demand once that the commodity has become cheaper.
  • Technical indicators signalling strong sell.
  • Support level 1597.
  • Resistance level at 1780.

Gold Chart


Coffee Highlights:

  • Coffe prices increases as speculation that investment funds tracking commodity indexes will increase their holdings.
  • In the last 4 months the price of coffe has fallen from $180 to $147 or around 0.19%.
  • Technical indicators signal from mild to strong buy.
  • Coffee is up today more than 100 points.

Coffee Chart


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