Daily Gold
| Crude Oil: Oil Trading On A Weaker Footing This Morning |
For
the 24 hours to 23:00 GMT, Crude Oil declined 0.28% against the USD and closed
at USD56.86 per barrel on Friday, after fresh figures from Baker Hughes
indicated that the number of active US oil rigs rose by 9 to 738 in the week
ended 10 November, adding the most rigs since June 2017.
In
the Asian session, at GMT0400, the pair is trading at 56.80, with the oil
trading 0.11% lower against the USD from Friday’s close.
The
pair is expected to find support at 56.45, and a fall through could take it to
the next support level of 56.10. The pair is expected to find its first
resistance at 57.25, and a rise through could take it to the next resistance
level of 57.70.
Crude oil is trading below its
20 Hr and 50 Hr moving averages.
| Gold: Yellow Metal Trading A Tad Higher In The Asian Session:
For the 24 hours to 23:00 GMT, Gold declined 0.82% against the USD and closed at USD1275.50 per ounce on Friday, surrendering its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 1276.10, with the gold trading marginally higher against the USD from Friday’s close.
The pair is expected to find support at 1270.97, and a fall through could take it to the next support level of 1265.83. The pair is expected to find its first resistance at 1283.87, and a rise through could take it to the next resistance level of 1291.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages
|
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