Commodities Update

Commodities Update

Gold

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

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