flag-gb flag-my flag-zh flag-id flag-th flag-vi

COMMODITIES TECHNICAL ANALYSIS November.08

Gold

Gold prices turned lower yesterday. Buyers were unable to take out the mark 1305 dollars per ounce and after several unsuccessful attempts to retake it the pair fell. Sellers pushed the price to the level at 1280 which slowed down its downward trajectory for a while. After rolling back bears made another attempt to regain the level and succeeded this time. After the break the yellow metal headed to 1275. The resistance resides at 1290, the support comes in at 1280 dollars per ounce.

We believe the downward impetus will remain intact in the short-term. A break below 1280 suggests further weakness towards 1270 dollars per ounce.

08_11_2016-xauusd

Brent

Brent traded mixed on Monday. The price gapped upwards and reversed some losses during the European trades. However, Brent oil futures encountered selling pressure right after NY opening. The price turned around at 49.50 and dropped to 45.50. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

A bearish continuation through 45.50 should lead to a continued slide, with 44.50 dollars per barrel as the first probable target.

08_11_2016-brent

Read the full review on our site:
https://www.fortfs.com

Latest news

8,88% negative trades compensation

2019-04-02 06:51:06

FortFS launches Ultimate Cashback promotion! The promotion is aimed to get the balance compensation per each trade closed with the negative result. Compensated amount is fixed and is equal to 8,88% of the loss amount. All compensations are credited into the trading account automatically.

Unlimited Leverage

2019-03-01 16:41:06

What is the unlimited leverage? Usually it means borrowed funds provided by broker to clients to enable clients to open larger positions and to increase income from investing without increasing their investments. However, the leverage always has an established limit which is originally determined by the broker and cannot be changed.