Commodities Update

Commodities Update

Gold

Yesterday, gold traded 0.16% higher in the New York session and ended at USD1256.00 per ounce.

In the Asian session, at GMT0500, the precious metal is trading at USD1254.40 per ounce, 0.13% lower from the New York close.

The precious metal is expected to find its first support at USD1249.37 per ounce and first resistance at USD1262.77 per ounce. The second support is expected at USD1244.33 per ounce and second resistance at USD1271.13 per ounce.

The CCI has crossed -100 from above, generating a bearish signal.

Crude Oil

Crude oil fell in the New York session yesterday, closing 0.54% lower at USD44.33 per barrel.

At GMT0500, the commodity is trading at USD44.49 per barrel, 0.36% higher from the New York close.

The commodity is expected to find its first support at USD44.20 per barrel and first resistance at USD44.79 per barrel. The second support is expected at USD43.92 per barrel and second resistance at USD45.10 per barrel.

The CCI has crossed -100 from above, generating a bearish signal.

 

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