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– London Capital Group (based on investing.com)
Pair's Outlook
On early Friday morning the yellow metal fluctuated slightly lower during the first hours of trading. However, the most notable fact is that the bullion began the session firmly below the weekly S2, which is located at 1,184.22. Previously, on Thursday the level of significance provided enough support to keep the rate up after the 2.06% fall, which occurred during Wednesday's trading session. The outlook for the metal is simple – a continuation of the fall, as the next support levels is down below at 1,165.54.
Traders' Sentiment
Traders remain bullish on the metal, as 58% of open positions were long Friday morning. Meanwhile, trader set up orders remained unchanged, compared to Thursday, as 53% of pending commands were to buy.
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