Gold Waits For Direction While Oil Makes New Highs | Trading

Share it with your friends Like

Thanks! Share it with your friends!

Close

Gold still can’t break above 1365 and fulfill buyers dreams of a breakout above that resistance level. It was an even lower level that thwarted them last week – 1350 proved too much.

Support levels on the downside are at 1320 and 1300, that’s where there’s likely to be either a turnaround or a stronger move south.

The ECB interest rate announcement on Thursday and GDP data from the U.S. on Friday are expected to give it a push.

In the meantime Crude Oil has continued its rally and managed to climb as high as 69.52 on Thursday. It’s what bulls have been expecting/dreaming about for quite some time now and 70 could be there for the taking.

You could say it’s a psychological barrier and a consistent jump above could prolong the rally but bulls are hoping it will prove to be a bridge too far.

Comments

Steve Burris says:

Will miss you David. Best wishes to you in your new direction. Hope our paths cross again!

Gregory Epp says:

You should have mentioned OPEC for both 2014 fall and it's new rise. They just announced they would keep reducing its production.

André Mariano says:

no!! don't leave james bond!

Amarnath Mukherjee says:

All the best David. I just unsubscribed trading 212, bcoz u r leaving. ,☹️

Smash Pass Studies says:

I always watch all of the videos but nothing of what you say influence my decision because I have my way to trade, but I just like watching 😊

Smash Pass Studies says:

No, I want David !

Gautam G says:

where are you going David Jones……i will miss u sir…..u are really a master of trading……………..God Bless U 🙏

Ralph111417 says:

Oh no, no no….I will miss you David! Nothing is forever but I really appreciate your presentation style. Thank you for all the insight and knowledge you have shared with us, you have educated me better than anything else out there. All the best to you.

Trevor Petrini says:

What is the program you are using in your videos?

maria estrella caoili says:

i really hope will move its bullish trend. Great thanks and God Bless David

Comments are disabled for this post.