After Thursday's rally the spot turned bearish on Friday. Gold prices completed an upside impulse around 1270 in the late European session. The price pushed away from the resistance and dropped to 1250 dollars per ounce breaking 1240 on its way. The resistance is at 1260, the support comes in at 1250 dollars per ounce.
A close above 1250 will generate a fresh bearish signal for further advance towards 1240 dollars per ounce.
The bullish market structure remained in place on Friday. After breaking 55.50 and posting a weekly high at 56.00 oil prices edged lower on profit-taking. The benchmark softened to 54.50 where black gold found fresh bids. The price bounced off the level and reversed almost all its previous losses. The resistance is at 55.50, the support comes in at 54.50 dollars per barrel.
We remain bullish until we see a break below 53.50 dollars per barrel. The level 56.50 is the next bulls’ target.
Read the full review on our site:
We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]
Dear Traders, Make sure to receive $100 on your trading accounts only from the 20th to the 28th of August! No Deposit Bonus 100 USD is the best way to start trading and test all of the Company’s products! GET BONUS The bonus features: Withdrawal of up to 100 USD 75 lots of trading turnover […]