Gold has completed an upside impulse after meeting an obstacle at 1250 dollars per once. Buyers have been trying to break the level for several days. Every time they try they meet sellers' resistance. When another attempt failed the market turned bearish on Thursday. The yellow metal moved away from 1250 and eased to 1245. The resistance resides at 1250, the support comes in at 1240 dollars per once.
We will preserve our positive outlook until the precious metal is above 1230. Our next profit targets are 1250 and 1255 dollars per once.
Market’s neutral stance persisted on Thursday. The benchmark remained offered staying in a narrow range around 50.50. The price went back and forth within the range during the day. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.
If the downward pressure remains intact the benchmark will decline to 49.00 dollars per barrel in the coming sessions.
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