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2021-07-05 • Updated
Gold managed to regain above its key support area mentioned in our previous reports at 1769 USD/Oz, which represents its 61.8% Fibonacci of the recent rally (April – June). On Friday, Gold advanced further nearing 1790 USD/Oz, while the technical indicators has turned slightly higher. This confirms our bullish outlook in the short and medium terms. In the meantime, we prefer to long gold between 1780 and 1770 USD/Oz with a stop at last week’s lows, as revisiting that low would change the major outlook once again. On the upside view, Gold needs to break above 1800 USD/Oz in the coming days, which would be another positive factor in both short and medium terms.
|
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
|
1743.96 |
1764.79 |
1776.04 |
1785.62 |
1796.87 |
1806.45 |
1827.28 |
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…
Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3).
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