Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
Gold supported by $1243
The $1250 level still acts as resistance for gold, with yesterday’s move above this level being slowly undone throughout the morning. However, the hourly chart still shows a steady move upwards, underpinned by the 200-hour MA.
Support could be found around $1243 as was the case on Monday, with buyers targeting the area around $1252.70. A steady drop lower in the intraday relative strength index is indicative that the buyers have yet to reestablish control, but a daily close above the 50-day moving average would certainly mark the continuation of the current rally.
Silver could slip to $17.25
Once again $17.50 is holding as resistance, along with the declining trendline that has been a perennial feature of this market since mid-July.
The drop through the 200-hour MA suggests we will see another dip towards the $17.25 area, with further selling likely to see a retest of $17.10, the lows from 15 October.
Brent testing 200-hour MA
Brent crude is testing the 200-hour MA for the first time since the end of September, as it looks to cross over the highs from 17 October. A close through here would lead us on to $88 and then the 20-DMA at $90.50.
Meanwhile a move downwards targets $84.50 and then the 16 October lows at $83.
WTI running out of momentum
US light seems to be running out of momentum around $82.80, which would suggest that this level and the nearby 200-hour MA will conspire to hold down any upside moves. Downward moves would target $81.70, $80.90 and then the psychologically-important $80 level.