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

COMMODITIES TECHNICAL ANALYSIS February.3

Gold

The near-term upward channel remained intact on Thursday. Buyers kept pushing the precious metal higher and broke 1220 in the first part of the day. After breaking the level bulls advanced up to 1225 where the price came across with a fresh selling interest. The yellow metal turned around and returned below 1220 in the NA session. The resistance is at 1220, the support comes in at 1210 dollars per ounce.

As the most probable scenario, we consider moving downwards towards the level 1210 dollars per ounce. The uptrend is still intact, the current decline we consider corrective.



Brent

Brent oil prices traded mixed on Thursday. The price was moving up the first part of the day. Traders pushed the benchmark to 57.50 where black gold met a barrier. The price reversed its direction and dropped back to 56.50 dollars per barrel. The resistance is at 57.50, the support comes in at 56.50 dollars per barrel.

If the bearish tone persists we expect a return into a familiar range 56.00 – 55.00 dollars per barrel. Should Brent futures stays above 56.50 the benchmark has a chance to test 57.50 again.

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

Latest news

DEPOSIT BONUS 200%: PROLONGED TILL 04 JANUARY 2021!

2020-12-04 08:57:41

Only from November 02nd, 2020, to January 04th, 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 […]

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! πŸ† Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts πŸ“ How to get the bonus: 1) Register an […]