Low Priced Gold – Too Good To Be True?
BRENT – You may have been watching our daily videos, and might have heard us saying Brent would highly likely than not go up in price. Well, truth be told so it has. Our technical analysis conclusion is that on the pull backs the market will probably have a higher inclination to keep buying until it stabilizes around the 60USD/barrel mark.
GOLD – Gold, so cheap it's too good to be true. At least that’s what technical analysis we have would make you conclude. Gold has had a sharp fall just like the EURO but we like to buy when the price is low. Gold appears to be in that category. Support being the lower end of the channel in the diagram seems to be a good support and accordingly we may see the market starting to buy the gold over the span of the next month. Buy support being a region of 1160/1150 with possible targets reaching 1190 – 1214 – 1232 throughout December and January.
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***Information contained in this news letter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making, but merely provides information from the market for its clients as additional information being made available as per the events occurring in the financial markets.
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