The bearish trend remained intact. The XAU/USD continued advancing south. The price briefly recovered during the Asian session on Monday. Gold prices gave up their small gains and decreased during the European and North American sessions. The resistance is at 1320, the support comes in at 1310 dollar per ounce.
As the most probable scenario, we consider further moving downwards towards the level at 1300. The price could conduct a short-term recovery towards 1320.
Brent had a positive day and closed bullish on Monday. After a brief consolidation during the Asian hours the price kept trending upwards. The price broke the level 50.50 and touched the mark 51.00. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.
If the bullish tone persists we expect a breakout of the level 51.50. However, oil is overbought and we anticipate a large correction to ease the upward pressure.
Read the full review on our site:
Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications