25 Jul 2013
Previous metals trading at intraday highs, gold at 1330.00
FXstreet.com (New York) - Precious metals have rallied to intraday highs during US trading Thursday, rebounding off earlier drops that came ahead of a mixed US data release.
Gold bullish chances revived
Gold has tentatively broken the 1313.00 level and the ascending support, and that activated a proposed bullish scenario. The yellow metal should retrace and as long as it settles back above 1313.00, its bullish chances will be revived. At the time of writing, gold prices are trading at USD $1329.40 per oz. Thursday.
Silver upside projected
Silver dipped briefly below 20.00, activating a bullish scenario that could see a minor rebound in the coming sessions. The white metal remains above the ascending trend line for the latest bullish correction, and thus the scenario remains valid, though it requires stability back higher above 20.00 level. The price of silver has now moved to USD $20.21 per oz. during US trading.
WTI hits support
WTI Crude oil approached a support area among 104.30-103.90, which promptly saw an intraday rebound from this support. On the other hand, a break below 103.90 will confirm further downside. In these moments, WTI crude oil is negotiating a price of USD $104.79/bbl Thursday.
Gold bullish chances revived
Gold has tentatively broken the 1313.00 level and the ascending support, and that activated a proposed bullish scenario. The yellow metal should retrace and as long as it settles back above 1313.00, its bullish chances will be revived. At the time of writing, gold prices are trading at USD $1329.40 per oz. Thursday.
Silver upside projected
Silver dipped briefly below 20.00, activating a bullish scenario that could see a minor rebound in the coming sessions. The white metal remains above the ascending trend line for the latest bullish correction, and thus the scenario remains valid, though it requires stability back higher above 20.00 level. The price of silver has now moved to USD $20.21 per oz. during US trading.
WTI hits support
WTI Crude oil approached a support area among 104.30-103.90, which promptly saw an intraday rebound from this support. On the other hand, a break below 103.90 will confirm further downside. In these moments, WTI crude oil is negotiating a price of USD $104.79/bbl Thursday.