© Dukascopy Bank SA
– based on WBP Online
Pair's Outlook
The bullion surged during Wednesday's trading session, as it even touched the weekly R1 at 1,356.64. However, the metal ended the day's trading session at the combined level of the weekly and monthly pivot points just at 1,345. At the start of Thursday's session the yellow metal started the day's trading session slightly higher at 1,346.61, and began to fall, as it had moved below the level of combined pivot points to trade at 1,342.27 by 5:15 GMT. Although, it might be temporary, as daily aggregate technical indicators forecast a surge for the metal today.
Traders' Sentiment
SWFX trader sentiment remained unchanged on Thursday, as 52% of open positions were short. However, pending commands had slightly moved to the bearish side, as 53% of pending orders were long, compared to 55% the previous day.
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