Vi använder en mängd olika cookies för att du ska få den bästa användarupplevelsen. Genom kontinuerlig användning av denna webbplats godkänner du vår användning av cookies. Du kan läsa mer om vår policy för cookies och redigera dina inställningar här eller genom att följa länken längst ner på alla sidor på vår webbplats.
Gold finds resistance at 20-DMA
The bounce here has carried gold through the $1209 and $1215 levels, but the 20-day moving average is providing some resistance for the time being. Attempts to hold above $1220 have been beaten so far, but a close above here would target $1230 and then $1235.
A drop lower could find support around $1203, followed by $1190 and $1184, the latter marking the lows of this week’s price action.
Silver progress hindered by $17.50
The metal has finally pulled itself out of the oversold zone, but once again the $17.50 area is proving to be a stumbling block. Even if silver can emulate gold and continue its rally the $17.80 area will likely provide resistance as well.
The hourly chart sees another attempt to hold above the 200-hour MA. Yesterday’s attempt was short-lived and ran out of steam at $17.60 but even $17.40 is proving too much so far today. A drop lower would first test the 200-hour at $17.25 and then $17.15.
Brent could drop to $88.40
Some support for Brent may be found around $90.70, but the next stop still looks like the 2012 low around $88.40. Any break higher requires a breach of the 50-hour MA at $92.11, and then the 100-hour around $92.55. A sustained bounce would still find it difficult to break the 200-hour, currently around $94.44.
$87.70 holding as support for WTI
The steady trend on the four-hour chart is not one to be trifled with at present. Resistance has been found around the $90.40 level, while on the weekly chart $87.70 continues to hold as support for the commodity.