GOLD TECHNICAL ANALYSIS – Gold prices dropped to weekly low as sellers attempt to build momentum following the appearance of a Bearish Engulfing candlestick pattern. Want to discuss the outlook for crude oil and gold prices with a DailyFX analyst? Chart created using TradingViewCRUDE OIL TECHNICAL ANALYSIS – Crude oil prices recoiled from seven-week range resistance at 53.86 once again. The move may reflect pre-positioning ahead of much-anticipated Congressional testimony from Fed Chair Janet Yellen. The metal may suffer further if she hints that December's projection for three increases in the baseline lending rate this year remains intact.
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(Kitco News) - Gold prices were ending the U.S. say session slightly down Tuesday, pressured by a stronger U.S. dollar index that was supported by hawkish comments from Federal Reserve Chair Janet Yellen. Gold prices lost most of their early gains, while U.S. Treasury yields up-ticked, right after her prepared remarks were released. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,250.00. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 290.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 260.00 cents.
GOLD TECHNICAL ANALYSIS - Gold prices dropped to weekly low as sellers attempt to build momentum following the appearance of a Bearish Engulfing candlestick pattern. Chart created using TradingViewCRUDE OIL TECHNICAL ANALYSIS - Crude oil prices recoiled from seven-week range resistance at 53.86 once again. Want to discuss the outlook for crude oil and gold prices with a DailyFX analyst? The move may reflect pre-positioning ahead of much-anticipated Congressional testimony from Fed Chair Janet Yellen . Near-term support remains at 1219.20, the 38.2% Fibonacci retracement, with a daily close below that exposing the 23.6% level at 1182.36.
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collected by :Jack Luxor
As it stated in
Gold Slightly Lower As Greenback Rallies On More Hawkish Yellen
(Kitco News) - Gold prices were ending the U.S. say session slightly down Tuesday, pressured by a stronger U.S. dollar index that was supported by hawkish comments from Federal Reserve Chair Janet Yellen. Gold prices lost most of their early gains, while U.S. Treasury yields up-ticked, right after her prepared remarks were released. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,250.00. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 290.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 260.00 cents.
GOLD TECHNICAL ANALYSIS - Gold prices dropped to weekly low as sellers attempt to build momentum following the appearance of a Bearish Engulfing candlestick pattern. Chart created using TradingViewCRUDE OIL TECHNICAL ANALYSIS - Crude oil prices recoiled from seven-week range resistance at 53.86 once again. Want to discuss the outlook for crude oil and gold prices with a DailyFX analyst? The move may reflect pre-positioning ahead of much-anticipated Congressional testimony from Fed Chair Janet Yellen . Near-term support remains at 1219.20, the 38.2% Fibonacci retracement, with a daily close below that exposing the 23.6% level at 1182.36.
read more visit us gold
collected by :Jack Luxor
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