Note: This section contains information in English only."Gold has risen over 9 percent so far this year despite an 8 percent drop in November, snapping a three-year losing streak."
- Reuters
Pair's Outlook
[ANNOUNCE]The bullion traded above the third weekly resistance level, which is located at 1,158.04, on Friday morning.[/ANNOUNCE] Previously, during Thursday's trading session the yellow metal surged from 1,140.68 to end the session at 1,157.02. However, that was not the end of the jump, as it continued into Friday. The metal's price moved during the week against most technical clues. However, our analysts have found that the last two weeks have been a rebound of the commodity price from a large scale descending channel's lower trend line, which is set to continue.
Traders' Sentiment
Traders remain long on the bullion, as 58% of open positions are bullish. In the meantime, trader set up buy orders have increased from 61% to 70%.
Fri, 30 Dec 2016 09:41:22 GMT
Source: Dukascopy Bank SA
- Reuters
Pair's Outlook
[ANNOUNCE]The bullion traded above the third weekly resistance level, which is located at 1,158.04, on Friday morning.[/ANNOUNCE] Previously, during Thursday's trading session the yellow metal surged from 1,140.68 to end the session at 1,157.02. However, that was not the end of the jump, as it continued into Friday. The metal's price moved during the week against most technical clues. However, our analysts have found that the last two weeks have been a rebound of the commodity price from a large scale descending channel's lower trend line, which is set to continue.
Traders' Sentiment
Traders remain long on the bullion, as 58% of open positions are bullish. In the meantime, trader set up buy orders have increased from 61% to 70%.