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 trading rangebound
Gold prices have returned to a longstanding range of consolidation between $1,200 and a lower band of $1,192 after spiking to a short-term high of $1,213 in overnight markets. The aforementioned ranges will now represent today’s intermediate risk ranges, which if a close is seen to the topside could see a retest of $1,204-$1,208. However, a break below the lower band of support could see a return to Wednesday’s level of $1,186.
Silver fails at key level
Silver failed to post a close above Thursday’s intermediate topside target of $16.15. This will more than likely continue to act as an area of support for the continuing long-term downtrend, which could see a retest of $15.71.
Brent trapped in consolidation
Brent prices resumed the bearish trend after failing to break above an intermediate topside support range of $63.53, despite two attempts. However, the long-term bearish trend does appear to be running out of steam with a series of three shallow lower highs, possibly signaling a period of short-term consolidation.
Friday’s intermediate risk ranges remain unchanged, with a topside level of $63.53 and a downside level of $57.67.
WTI price action muted
WTI prices posted a higher low of $54.28 on Thursday, which is an area that is likely to give support for a move higher, and if sustained could see a retest of $59.89. However, WTI appears to be trading in a lethargic trend, indicative of a period of consolidation. Should downside pressure resume the next clear area of possible consolidation presents itself at $44.35.