OAurthor

OAurthor

WTI remains firmer for the second consecutive week even if the intraday buyers retreat during early Friday morning in Europe. That said, the black gold slides to $80.95 while paring the daily gains by the press time. In doing so, the energy benchmark takes clues from the recent stabilization of the US Dollar, as well as hawkish comments from the Federal Reserve...

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The daily chart for the XAU/USD pair favors a bullish continuation. The pair topped in January at $1,928.93 a troy ounce, the level to surpass to confirm an upward extension. Technical indicators in the mentioned time frame remain within overbought readings, posting modest advances and without signaling upward exhaustion. At the same time, the 20 Simple Moving...

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Silver price (XAG/USD) renews its intraday low near $23.95 as bears return to the table early Wednesday after a two-day absence. The bright metal’s latest weakness could be linked to the US Dollar’s mildly positive performance and doubts over China’s Covid-linked optimism.

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Gold price has taken out the August 10 high at $1,808, now heading closer toward the July 4 high at $1,814. Bulls remain in control after Gold price closed the week above the critical 200-Daily Moving Average (DMA) at $1,796 on Friday. The 14-day Relative Strength Index (RSI) has turned flat just beneath the overbought territory, suggesting the potential upside...

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After Saudi Arabia denied a report that it was discussing an increase in oil supply with OPEC and its allies, there are now reports that they will promise additional measures to ensure oil market stability. Saudi and Iraqi energy ministers have been reported saying that there is an importance of working within the OPEC+ framework. as a consequence, oil rose in...

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Silver has strong by mode and will continue it's trend till 20.0000

OAurthor

XAUUSD price broke below $1,644, 23.6% Fibonacci Retracement (Fibo) level of the October decline from the $1,730 peak. Therefore, bears keep their sight on the October low at $1,617, below which the focus remains on the 2022 low at $1,615. The 14-day Relative Strength Index (RSI) is inching higher while below the 50.00 level, suggesting that the rebound is...

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The downside break of the rising trendline support, earlier this week, has kept XAU sellers alive and kicking. Bears now gather strength to take out the 2022 lows at $1,615, paving way for a test of the $1,600 round figure. The 14-day Relative Strength Index (RSI) is pointing south towards the oversold territory while below the midline, suggesting that there is...

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After a continuous down trend a reversal breakout is expected in downjones in H1 time frame

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Silver is forming a bullish flag pattern in the H1 Timeframe Bullish Flag Formation in the Silver Over H1 timeframe

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Gold price broke above the falling trendline resistance at $1,712 on a daily closing basis and validated a falling channel breakout. The recovery from six-week lows could regain traction on a sustained move above the $1,720 round number, above which the $1,730-$1,734 supply zone could come into play. The area is the confluence of the recent range highs and the...

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Oil bulls have gained decent traction as the announcement of production cuts seems on cards in the OPEC meeting on Monday. The cartel has already signaled for production cuts to offset the recent decline in oil prices. For the oil cartel, weaker prices are always considered an imbalance as they generate lower revenues for oil-exporting nations. Therefore, the oil...

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Bears need to find footing once again below $1,700 to resume the downside momentum. The next cushion is seen at the rising trendline support at $1,690. Should the decline accelerate below the latter, a test of the 2021 low of $1,677 will be on the table, below a break of the yearly lows.” “The 21-Daily Moving Average (DMA) is set to cut the 50 DMA from above,...

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Gold prices charted an inconclusive session at the beginning of the week amidst a small uptick in open interest. That said, further weakness should not be ruled out while the next support now emerges at $1,711 per ounce troy

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Gold price remains inside a two-week-old bearish chart pattern as sellers attack the confirmation level surrounding $1,750. Adding strength to the flag’s support is the 50-HMA level and steady RSI (14). In a case where the quote drops below $1,750, the theoretical slump towards the yearly low near $1,680 could avail the monthly bottom of $1,727 and the $1,700...

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In less than a quarter, the U.S. dollar managed to reach parity with the euro for the second time. Unlike the previous time, where one euro traded for one dollar, the pair managed to confirm the breakthrough. This sell-off means that the bets for a more hawkish FED after the Jackson Hole symposium are on the rise. If the bears continue to dominate the market, then...

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WTI crude oil buyers defend the $91.00 breakout heading into Tuesday’s European session. In doing so, the black gold justifies the previous day’s upside break of the 100-SMA, as well as the bullish MACD signals. Additionally, the lower high on prices joins the higher high on the RSI (14) to portray the hidden bullish divergence of the commodity. As a result, the...

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From a technical perspective, spot prices now look to the monthly low, around the 1.2000 psychological mark, to offer some support. Bearish traders might need to wait for a convincing break below the said handle before positioning for any further losses. The GBP/USD pair might then accelerate the fall towards the 1.1965-1.1960 intermediate support en route to the...