English
Brent crude oil price range trades, while copper, silver prices gradually advance
Brent crude oil price range trades, while copper, silver prices gradually advance amid ongoing US tariff uncertainty.
Brent crude oil price range trades
The Brent crude oil price still oscillates around the $65.00 per barrel level, having recovered from its near 4 1/4 year low at $58.18.
Last week's $65.68-to$65.74 highs represent resistance. If overcome, the 7 April $67.11 high and the September-to-March lows at $68.215-to-$68.455 may be next in line.
Minor support below Monday's $63.635 low sits between the previous Monday's $62.305 low and Friday's $62.395 trough.
Copper price in recovery mode
The copper price is gunning for the 55-day simple moving average (SMA) at $4.7473, having overcome the $4.4698-to-$4.4983 resistance zone. Because of inverse polarity it has now become a support zone. It is made up of the mid-October, November and January highs as well as the late February low.
Further minor potential support can be seen along the 200-day SMA at $4.4074.
Silver price bangs against resistance for third straight day
The spot silver price's recovery off its eight month $28.315 per troy ounce low has taken it to the 55-day SMA at $32.42 which has acted as resistance over the past three days.
Slightly further up lies the 21 March low at $32.65 low which may also act as resistance.
Minor support may be found around the 11 March low at $31.81. Below it meanders the 200-day SMA at $30.94.
Connect with us
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Professional clients trading spread bets and CFDs can lose more than they deposit.
Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. They’re not suitable for most investors. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.
Trading stocks and shares ‘on margin’ within a US options and futures account – meaning that you only finance part of the cost of acquiring a position in a security – carries additional risks over buying securities on a fully funded basis and may result in losses exceeding your original investment. Trading on margin will also result in additional costs to you as the investor and any securities purchased using margin may be held as collateral by the lender, restricting both your rights as shareholder, and your ability to use the securities until the margin trade is closed. You should familiarise yourself with these risks before trading on margin.
The value of shares, ETFs and other ETPs bought through a share dealing account, a US options and futures account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing.
Share dealing and IG Smart Portfolio accounts provided by IG Trading and Investments Ltd, CFD accounts and US options and futures accounts are provided by IG Markets Ltd, spread betting provided by IG Index Ltd.
IG is a trading name of IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764), IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Trading and Investments Ltd (Register Number 944492) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.
The information on this site isn’t directed at residents of the United States, Belgium or any particular country outside the UK and isn’t intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
