Gold attempts to regain lost ground as Brent crude heads lower once again
Gold attempts to regain lost ground after a volatile week just gone. Meanwhile, Brent crude remains in the back-foot with price continuing its recent bearish trajectory
Gold rebounds from key support, as recovery remains in play
Gold has seen plenty of volatility over the course of the past week, with the precious metal following the declines seen across equity markets in the wake of FOMC, BoE, and ECB meetings last week. European equities look to be kicking off the week on a positive footing, which helps the bulls stay optimistic despite concerns. Given the fact that last week’s declines managed to keep price above the $1766 swing-low, the uptrend in play over the past three-months does remain in play. A break down through that support level would be required to bring expectations of a bearish reversal for the precious metal.
Brent crude heads continues to lower
Brent Crude has been on the back foot since Thursday’s peak, with price looking set to continue the bearish trajectory that has been dominating since the beginning of November. With price having recently pushed up towards the trendline and Fibonacci resistance area, we are seeing the bears come back into play once again. With that in mind, another move lower looks likely for Brent crude, with a bearish bias in play as long as price remains below the $89.35 swing-high resistance level.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market.
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
