Gold continues to trade within a medium-term channel
18 August, 2016
Gold continues to trade within a medium-term channel $1335- $1358.
Current situation
Today gold market consolidate at the level of the balance price of this range at $1344. Trading activity during the day is reduced, for some time gold will stay consolidated within this range.
Trading recommendations
We note that the chance for downward consolidation breakout increased. (support at $1,335). However the likehood of the Fed rate hike can dramatically change the balance of power in this market.
Source link
Related materials
Oil prices extended gains in early trading hours as expectations for further reductions in global supply levels continued to build following Donald...
The oil market has been going crazy in the last few days. On Monday, the US West Texas Intermediate crude for June delivery rose nearly 1.5 percent...
Last week we have spoken about Warren Buffett's dislike for Bitcoin and the whole cryptocurrency world. Fine... it is not that he doesn't like it...
Markets in Asian traded mixed on Thursday as investors digested a widely anticipated interest rate decision by the US Federal Reserve while looking...
Asian equity markets were mostly higher on Monday, with investors focusing on geopolitical tensions over the Middle East while keeping an eye...
Asian equity indexes moved into green territory on Tuesday despite a weak lead from Wall Street on the back of higher Treasury yields and as traders await...
The light news flow and a break in US-Chinese trade rhetoric give the equity markets a positive momentum amid so far positive reporting season in the US...
UK Average Earnings excluding Bonus (3Mo/Yr) (Feb) is expected to come in at 2.8% from 2.6% previously. Claimant Count Change (Mar) is expected...
Markets in Asia were mixed on Monday amid rising geopolitical tensions following a western air strike over Syria and as investors await for fresh...
Top 10 Forex Brokers 2019
| 1 |  | 89% |
| 2 |  | 88% |
| 3 |  | 86% |
| 4 |  | 84% |
| 5 |  | 82% |
| 6 |  | 81% |
| 7 |  | 78% |
| 8 |  | 77% |
| 9 |  | 72% |
| 10 |  | 70% |