Gold remained in a descending channel, trading around its lower boundary. Having bounced from 1160 the pair was unmoved trading in a tight range on Tuesday. The resistance is at 1180, the support comes in at 1170 dollars per ounce.
A recovery above the 1180 level will favor an advance up to the 1190 region. A failed test of the current resistance will ease a buying pressure and may send prices to 1160 dollars per ounce.
Brent weakened and erased a minor part of its gains on Tuesday. The ongoing decline could be attributed to some profit taking from bulls following a recent rally. The benchmark moved below 54.50 and tested 53.50 dollars per barrel in the NY session. The resistance is at 54.50, the support comes in at 53.50 dollars per barrel.
A break below the current support will strengthen sellers’ positions. Sellers may drive Brent prices to 52.50 and 51.50.
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.