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Pair's Outlook
The yellow metal stopped the previous low volatility movements and dropped on Wednesday from 1,331.10 at the start of day's trading session to 1,315.11 at the end of Wednesday's trading. In addition, the metal touched the weekly S1 at 1,312.88, but it slightly rebounded afterwards. On Thursday morning the bullion continued to struggle with the support level. However, daily aggregate technical indicators forecast no change for the commodity price today.
Traders' Sentiment
SWFX traders have become neutral on the yellow metal, as 50% of open positions are long on Thursday. However, pending orders in the 100-pip range are 72% long.
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