Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com.
Momentum continues to be seen as
follows through on Thursday gains. It now eyes the 1,121.05 level, where a clean break will put the commodity on the path to further strength toward the 1,130.93 level. The commodity has support at the 1,087.68/1.088.20 levels.
has clearly turned higher after testing briefly below the 78.01 level today. Risk of further strength is now seen toward the 80.75 level, where a decisive penetration will expose its 2010 high at 83.93. Any setback will target the 78.01 level.
is currently building further upside energy after trading flat on Thursday. It looks to head higher toward the 16.54 level, followed by the 16.92 level. Support lies at the 15.92 level.
Consolidation to upside bias continues to be seen in
, having reversed its Thursday losses today. A break and hold above the 509 level is required to bring the commodity out of the mentioned consolidation and target further upside gains.
has resumed its corrective recovery, breaking above the 376 level and testing a high of 379 today. Threats are now seen toward the 385 level and possibly higher. Support comes in at the 376 level.
Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for FXInstructor LLC as a technical analyst and head of research before joining FXTechstrategy.com. He has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, The International Business Times and FXstreet.com. At FXTechstrategy.com, he writes daily, weekly and long-term technical commentaries on currencies and commodities, which are offered to its clients. He also produces
for his subscribers. He provides full coverage of the forex market with specific focus on G10 currencies as well as the commodities markets, with focus on five key commodities.