Gold suffers losses on Tuesday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy BanK SA
"Theresa May was chosen the new Conservative Party leader on Monday. She will become Prime Minister on Wednesday evening. The lack of a prolonged period of transition in the UK's is negative for the gold market."
– Sunshine Profits (based on investing.com) 

Pair's Outlook 
The yellow metal marked its second consecutive session of losses on Tuesday, as it fell from 1,355.19 at the start of day's trading to 1,331.66 at the end of Tuesday's trading. In addition, this fall went right through the support provided by the weekly S1 at 1,342.44. However, on Wednesday morning, the bullion has surged a little bit on Wednesday morning, as the metal started the session at 1,332.70, and it has slowly moved towards 1,337.14 mark by 5:00 GMT. In addition, daily aggregate technical indicators forecast a surge for the bullion for today. 

Traders' Sentiment 
Traders have decreased their bearish sentiment on Wednesday, as 59% of SWFX traders are short on the yellow metal, compared to 65% on Tuesday. In the meantime, pending orders in the 100-pip range are 71% long.
© Dukascopy BanK SA
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