© Dukascopy Bank SA
Pair's Outlook
The yellow metal remained almost unchanged on Thursday morning. However, it had shown slightly more volatility to the downside. Previously, on Wednesday the bullion fluctuated more to the upside, and it seemed that the commodity price will regain its Tuesday's losses. However, that did not occur, as by end of the session the metal's price declined, and the session ended at the 1,130.63 mark. It is most likely that the metal will continue to slowly depreciate until the end of the week.
Traders' Sentiment
Traders remain largely bullish on the metal, as 60% of open SWFX trader positions were long on Thursday morning. Meanwhile, trader set up orders were also largely bullish, as 62% of set up orders were to buy the yellow metal.
© Dukascopy Bank SA