Commodities Update

Commodities Update


Yesterday, gold traded 0.2% lower in the New York session and ended at USD1217.10 per ounce.

In the Asian session, at GMT0500, the precious metal is trading at USD1215.90 per ounce, 0.1% lower from the New York close.

The precious metal is expected to find its first support at USD1212.07 per ounce and first resistance at USD1221.67 per ounce. The second support is expected at USD1208.23 per ounce and second resistance at USD1227.43 per ounce.

StochRSI is trading below 0.50 reflecting the presence of bearish momentum.

Crude Oil

Crude oil rose in the New York session yesterday, closing 1.27% higher at USD46.08 per barrel.

At GMT0500, the commodity is trading at USD45.97 per barrel, 0.24% lower from the New York close.

The commodity is expected to find its first support at USD45.21 per barrel and first resistance at USD46.50 per barrel. The second support is expected at USD44.46 per barrel and second resistance at USD47.04 per barrel.

A bullish crossover is visible on the chart as the short term EMA of the stock has crossed above its long term EMA.

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The CityTA

The CityTA was started with a desire to help new traders succeed in markets dominated by high frequency traders and other market dangers. Our instructors' objective is to bring this diverse knowledge to you. Our training programs are designed to accommodate easy learning for people who have never experienced financial markets. Financial markets have become more complex over the past 10 years. A grasp of market mechanics is important if a trader is to survive. Our focus for our students is to ensure that we give them the correct foundation, so they can develop their own strategy and build on the knowledge they gain to go on to be top performing traders.