Gold trading at 1,350 on Monday

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Everything is now aligned for the final upward impulse to complete Phase I of the great bull market in the PM stocks." 
– Burt Coons (based on investing.com) 


Pair's Outlook 
The yellow metal surged on Friday, as it went from the level of 1,335.75 at the start of the day's trading session to 1,350.10. On Monday morning the metal was trading at 1,349.62 by 5:30 GMT. The bullion started new week and month above the weekly and monthly pivot points respectively at 1,339.02 and 1,345.31, which indicates at a bullish market sentiment. In addition, gold is not facing any resistance up to the level of 1,366.06, where the weekly R1 is located at.  

Traders' Sentiment 
SWFX traders have become bearish on the pair, as 52% of open positions are short on Monday, compared to the neutral sentiment on Friday. In the meantime, pending orders in the 100-pip range are 62% long.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.