Denna information har sammanställts av IG, ett handelsnamn för IG Markets Limited. Utöver friskrivningen nedan innehåller materialet på denna sida inte ett fastställande av våra handelspriser, eller ett erbjudande om en transaktion i ett finansiellt instrument. IG accepterar inget ansvar för eventuella åtgärder som görs eller inte görs baserat på detta material eller för de följder detta kan få. Inga garantier ges för riktigheten eller fullständigheten av denna information. Någon person som agerar på informationen gör det således på egen risk. Materialet tar inte hänsyn till specifika placeringsmål, ekonomiska situationer och behov av någon specifik person som får ta del av detta. Det har inte upprättats i enlighet med rättsliga krav som ställs för att främja oberoende investeringsanalyser utan skall betraktas som marknadsföringsmaterial.
Gold suffers losses
Gold prices are trading at $1,264, up 0.19% on the day following a sharp downside correction on Thursday that saw prices come off its recent high of $1,297 to an overnight low of $1,252. The sharp move lower posted an oversold reading of 20 on its relative strength index (RSI) indicator, which has since resulted in a bounce higher to its current level.
Downside support is likely to be seen at $1,260, and if held is likely to see a move higher to $1,274. However, should downside support be broken then a retest of $1,251 may be seen.
Silver demand begins to wane
Silver is currently trading at $17.02, up 0.17% after suffering a substantial drop during Thursday’s trading session. This saw US jobless claims fall to a multi-year low, bolstering speculation of an impending tightening of US monetary policy, thus seeing a decline in demand for safe-haven assets such as precious metals.
Silver prices touched downside support at $16.74, which has held and seen prices move higher with further upside targets placed at $17.11. If this taken out then a move toward its 50-hour moving average, at $17.50 is possible. Should support fail to hold then a retest of $16.74 is likely to be seen.
Brent aiming for a breakout
Brent prices are trading at $49.71, adding 1.30% following a multi-year drop in the level of US jobless claims, which is indicative of an improving economy and could improve demand for oil.
Price action has pushed through a previous key level of resistance at $49.16, and if this becomes support then a move higher to $50.06 could be seen. However, a retest of $48.19 could come back into play if downside support fails to hold.
WTI breaks key resistance
WTI prices are currently trading at $45.09 having touched an overnight low of $43.58. Price action has pushed WTI above its 50-hour MA of $45.01 which had previously been a key level of topside resistance, and if held could support prices higher to its 100-hour MA of $45.91 – a move supported by its RSI reading of 56.9. The next clear level of support is not seen until $44.35 should downside support fail to hold.