OctaFX | OctaFX Forex Broker
Open trading account

Commodities Brief – Precious metals surge, crude makes failed break at 92.00

The yellow metal has rallied substantially higher Thursday, surging past the 1445 upside mark en route to a daily maximum of 1455 at the onset of US trading. Following the release of upbeat US jobs data however, the price of gold has eased slightly back to USD $1452.43 per oz. in these moments.

Silver barrels ahead
The white metal has finally managed to outperform its golden counterpart Thursday, jumping steadfastly to the 23.84 (intraday maximum) level in recent minutes. At the onset of US trading, silver is now negotiating a spot price of USD $23.64 per oz. – off its highs but still entrenched in positive territory on the day after a lackluster week.

Crude cannot break 92.00
WTI Crude Oil has managed to pare some of its European gains Thursday, after a plunge off the 91.91 handle. A failed attempt at the 92.00 barrier at the onset of US trading has led to a pullback towards the USD $91.57/bbl in these moments.

Forex Flash: Gilts face correction on horizon – RBS

According to Dmytro Bondar, a Technical Strategist at RBS, “Gilts met the initial target of 119.93 but fell short of 120.52 and formed a major reversal candlestick pattern (higher high, lower low, lower close) known as an outside session. It changes the view and suggests that should the 20-day MA and 119.27 level be broken, there would be strong chances of turning bearish with targets of 119.00 and 118.61. A sustained price above 120.00 makes it constructive again.”
Read more Previous

Forex: EUR/USD fall from 1.3094 high reaches 1.3050

The EUR/USD extended its gains to its weekly highs and printed a new one at 1.3094 ahead of the US pre-market, failing to reach the 1.3000 psychological level. From there, profit taking ahead of the NY opening pulled the pair to 1.3050.
Read more Next
Start livechat