Gold
On Monday, gold prices slipped marginally on progression of US China trade deal. Spot Gold was trading down at $1,466.50 whereas Comex Gold Future was trading down 0.11% at $1,466.85/ounce.
MCX gold price has shown positive momentum from lower levels last session and closed at 37,994. Gold price has given breakout of horizontal channel at 38,070 levels on the hourly chart. Gold price has given breakout of its falling trend line at 38,090 levels on the hourly chart. Momentum indicator RSI has positive crossover on the hourly chart, which suggests possibilities of upside in the price. On the other hand, gold price has remained above its Parabolic SAR indicator on the daily chart, which also supports our bullish view in the commodity. Based on above technical parameters, gold is looking bullish with a potential to reach 38,300.
Oil
On Monday, oil prices remained steady on pause in rising oil supply. Brent Crude was up 0.2% at 63.34 whereas West Texas Intermediate (WTI) crude was up 0.07% at $57.87.
On Monday, gold prices slipped marginally on progression of US China trade deal. Spot Gold was trading down at $1,466.50 whereas Comex Gold Future was trading down 0.11% at $1,466.85/ounce.
MCX gold price has shown positive momentum from lower levels last session and closed at 37,994. Gold price has given breakout of horizontal channel at 38,070 levels on the hourly chart. Gold price has given breakout of its falling trend line at 38,090 levels on the hourly chart. Momentum indicator RSI has positive crossover on the hourly chart, which suggests possibilities of upside in the price. On the other hand, gold price has remained above its Parabolic SAR indicator on the daily chart, which also supports our bullish view in the commodity. Based on above technical parameters, gold is looking bullish with a potential to reach 38,300.
Oil
On Monday, oil prices remained steady on pause in rising oil supply. Brent Crude was up 0.2% at 63.34 whereas West Texas Intermediate (WTI) crude was up 0.07% at $57.87.
No comments:
Post a Comment