Gold prices remained under heavy selling pressure on Friday. The yellow metal made a good break lower moving through a bunch of levels. The XAU/USD met a barrier around 1220. Traders were unable to drive prices lower. The pair bounced off the level and rolled back to 1227. The resistance resides at 1230 dollars per ounce, the support comes in at 1220.
If buyers fail to retake the 1220 level the price may roll back towards the current resistance level. A break above 1230 could extend recovery towards 1250.
Brent oil futures extended their weakness on Friday. After a brief consolidation phase during the Asian session traders pushed prices lower. The benchmark broke 45.50 and tested 44.50 in the NY session. After testing the level prices rolled back but remained under pressure. The resistance is at 45.50, the support comes in at 44.50 dollars per barrel.
We expect the price to extend losses below current support. Sellers may lead the price towards 43.50. Conversely, a recovery towards 46.50 is possible.
Read the full review on our site:
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.
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.