Note: This section contains information in English only."Since there are a few trading days left until the end of this year we think that the rebound will not be very strong."
– Jiang Shu, Shandong Gold Group (based on Reuters)
Pair's Outlook
[ANNOUNCE]The yellow metal traded above the 1,140 mark on Wednesday morning.[/ANNOUNCE] Previously, the commodity price jumped with high momentum and reached above the 1,150 mark during the early hours of Tuesday's trading session. However, it retreated after the surge until it found support in the 1,133.57 level, where the weekly PP is located at. Today's surge was just a continuation of the rebound. It is likely that the rise of the yellow metal will not extend further than the 1.150,18 mark where the weekly R2 is located at.
Traders' Sentiment
Traders remain long on the metal, as 59% of open positions were long on Wednesday. Meanwhile 62% of trader set up orders were to buy the bullion.
Wed, 28 Dec 2016 08:49:09 GMT
Source: Dukascopy Bank SA
– Jiang Shu, Shandong Gold Group (based on Reuters)
Pair's Outlook
[ANNOUNCE]The yellow metal traded above the 1,140 mark on Wednesday morning.[/ANNOUNCE] Previously, the commodity price jumped with high momentum and reached above the 1,150 mark during the early hours of Tuesday's trading session. However, it retreated after the surge until it found support in the 1,133.57 level, where the weekly PP is located at. Today's surge was just a continuation of the rebound. It is likely that the rise of the yellow metal will not extend further than the 1.150,18 mark where the weekly R2 is located at.
Traders' Sentiment
Traders remain long on the metal, as 59% of open positions were long on Wednesday. Meanwhile 62% of trader set up orders were to buy the bullion.