GOLD AND BRENT Impacted by a War Scenario
Gold and other commodities hit record highs on Friday, with gold reaching $2,431.40 mid-session before falling -4.40% by the close of trading. On Monday it remained in an average zone already marked in previous weeks since 8 April. But in Monday's trading day the Middle East conflicts have boosted commodities again with bonds, oil and metals the biggest gainers generating a +2.93% recovery. Currently, at the mid-session of the European market, it is clear that a possible technical rebound to the upside is in the making.
The Brent barrel has experienced a growth this month of 5.30%, WTI 5.02%, even gas has benefited with a 2.42% growth and in particular as we say gold has experienced a growth of 10.08% and silver 12.83%, copper has not corrected so strongly upwards but has been increased by 4.58%.
Looking at the chart, we can see how the RSI of both gold and oil is currently in its mid zone, and the price formation of both BRENT and GOLD is similar in this last period since Friday. It can be seen that the current control price formation is $2,337.93 so there could be a price correction to the more usual trading zone as happened on Friday.
Ion Jauregui - AT Analyst
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
The Brent barrel has experienced a growth this month of 5.30%, WTI 5.02%, even gas has benefited with a 2.42% growth and in particular as we say gold has experienced a growth of 10.08% and silver 12.83%, copper has not corrected so strongly upwards but has been increased by 4.58%.
Looking at the chart, we can see how the RSI of both gold and oil is currently in its mid zone, and the price formation of both BRENT and GOLD is similar in this last period since Friday. It can be seen that the current control price formation is $2,337.93 so there could be a price correction to the more usual trading zone as happened on Friday.
Ion Jauregui - AT Analyst
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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