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Crude recovers from session lows

FXStreet (Córdoba) - Crude oil prices fell Tuesday, with WTI crude oil futures posting a daily low of $45.36 a barrel before recovering back higher, almost erasing all of its intraday losses, on a report that a major pipeline has closed some its line. The early decline was attributed to rising concerns of the ongoing global slowdown affecting further an already reduced demand.

WTI technical perspective

“Having traded within Monday's range, the daily chart shows that the price briefly extended below its 20 SMA before recovering, while the technical indicators stand pretty much flat above their mid-lines, lacking directional strength”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the technical indicators are on contrary aiming higher, also around their mid-lines, whilst the price is a few cents above a still bearish 20 SMA, all of which suggest range-trading will continue over the upcoming sessions, until the release of the latest US stockpiles report, which may set a clearer directional tone”.

Support levels: 45.80 45.30 44.60. Resistance levels: 46.90 47.30 48.10.

Gold fails to benefit from the risk-off environment

Gold failed to benefit from the risk off environment and gave up ground to stronger dollar. The bright metal sunk for a second day in a row with spot sliding to a daily low of $1121.31 an ounce, nearing pre-FED levels of $1,120.00 an ounce.
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AUD/USD awaits Chinese data for next impetus

AUD/USD has made a very minor recovery vs the downside that its has faced this week from 0.7280, falling below the 200 SMA at 0.7138 today on the hourly sticks and reaching the aforementioned lows on a risk-off environment yet again while investors seek safer havens among the uncertainty around Global growth.
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