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14 Jun 2013
Commodities Brief – Silver trading at key 22.10 resistance, crude bulls ahead near 98.00
FXstreet.com (New York) - The US session was characterized by a jump in precious metals, which rose amidst speculation from the upcoming Fed meeting.
Gold 1366 downside target still in focus
Despite the recent rise however, a mild bearish tendency was witnessed for gold prices during the previous session yesterday, moving within a tight range. Though this range has proven to be quite tight recently, it is the potential break below 1366.00 that will ultimately confirm and accelerate the awaited downside wave. In these moments, the yellow metal has settled at USD $1388.07 per oz.
Silver testing key 22.10 resistance
Silver prices broke higher during US trading, notching an intraday high of 22.23 earlier before ultimately easing back towards the key 22.10 resistance. With the recent breakout, the previously awaited bearish scenario may be cancelled, given renewed short-term strength. Invariably, stability above 22.10 must hold for this finality to occur. At the current levels, the price of silver has now moved to USD $22.07 per oz. Friday.
WTI bullishly surges
Crude oil prices broke higher today as well, trading past the 97.00 resistance. A daily closing above 97.00 is required to affirm a general bullishness. At the time of writing, WTI crude prices have settled in the region of USD $97.89/bbl during US trading.
Gold 1366 downside target still in focus
Despite the recent rise however, a mild bearish tendency was witnessed for gold prices during the previous session yesterday, moving within a tight range. Though this range has proven to be quite tight recently, it is the potential break below 1366.00 that will ultimately confirm and accelerate the awaited downside wave. In these moments, the yellow metal has settled at USD $1388.07 per oz.
Silver testing key 22.10 resistance
Silver prices broke higher during US trading, notching an intraday high of 22.23 earlier before ultimately easing back towards the key 22.10 resistance. With the recent breakout, the previously awaited bearish scenario may be cancelled, given renewed short-term strength. Invariably, stability above 22.10 must hold for this finality to occur. At the current levels, the price of silver has now moved to USD $22.07 per oz. Friday.
WTI bullishly surges
Crude oil prices broke higher today as well, trading past the 97.00 resistance. A daily closing above 97.00 is required to affirm a general bullishness. At the time of writing, WTI crude prices have settled in the region of USD $97.89/bbl during US trading.