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– based on usagold.com
Pair's Outlook
The yellow metal marked its sixth consecutive session of gains on Wednesday, as after a highly volatile trading session, the metal ended day's trading at 1,363.35. On Thursday the bullion continued its surge, and it was trading at 1,367.70 by 5:15 GMT. At the moment, the metal has been testing the weekly R2 at 1,369.17 since yesterday, and, if the newly established upward trend continues, it is set to break past this resistance. In the meantime, daily aggregate technical indicators also indicate on a surge of gold today.
Traders' Sentiment
SWFX traders have not changed their positions for three days now, as on Thursday 58% of open positions were short. However, pending orders in the 100-pip range are still long, as 61% of orders are long.
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