Gold and silver lost ground in the Asia session, with silver down 3.01% and its RSI at 27.3, deep in oversold territory. Oil bounced about 1.6% as headlines pointed both to US strikes on Iran and to peace hopes. The RBA raised rates to an 18-year high, and the US midterm elections and JOLTs job openings at 19:00 Dubai time are in focus. European indices below show Monday's close, as the cash markets open at 12:00 Dubai time.
London ·
Gold trades at 3926.1, down 1.1% and below the pivot 3946.47. It is well under MA20 (4092.63) and MA50 (4265.14), and RSI 14 is 33.6.
What to watch: Whether the Asia low of 3926.5 and S1 3912.13 hold early in London.
Scenario: If price breaks below 3912.13, the next support is S2 3854.67; if it recovers above 3946.47, the next resistance is 4003.93.
R: 4003.93 / 4038.27 · P: 3946.47 · S: 3912.13 / 3854.67
Silver fell 3.01% to 49.195, below all of today's pivot levels and far under MA20 (55.598). RSI 14 at 27.3 is oversold, which can bring sharp rebounds.
What to watch: Today's low 49.145 and the round 48 level; a bounce back to 50.24 would ease the pressure.
Scenario: If price holds below 49.145, the next support is 48; if it reclaims 50.24, the next resistance is 50.915, the Asia high.
R: 50.24 / 50.915 · P: 50.58 · S: 49.145 / 48
WTI is up 1.58% at 97.98, right around the pivot 98.12 and MA20 (98.22), and above MA50 (95.08). RSI 14 at 50.5 is neutral, and the ATR of 4.53 means wide swings.
What to watch: Iran-related headlines and a daily close relative to 98.12.
Scenario: If price holds above 98.12, the next resistance is 101.09; if it slips below today's low of 96.12, the next support is 95.15.
R: 101.09 / 102.75 · P: 98.12 · S: 96.12 / 95.15
Brent rose 1.57% to 106.42, just under the pivot 106.81. It sits between MA50 (103.76) and MA20 (109.46), with RSI 14 at 47.1.
What to watch: Whether price can get back above 106.81 during London hours.
Scenario: If price breaks above 106.81, the next resistance is 110.34; if it falls below 104.2, the next support is 103.29.
R: 110.34 / 112.38 · P: 106.81 · S: 104.2 / 103.29
The DAX closed Monday at 25981.09, up 0.63% and above the pivot 25914.97, MA20 (25432.82) and MA50 (25576.44). RSI 14 is 59.1. This is the prior close; there are no bars yet today.
What to watch: The open at 12:00 Dubai time and whether it holds above the pivot.
Scenario: If price holds above 25914.97, the next resistance is 26088.38; if it falls below 25807.69, the next support is 25634.28.
R: 26088.38 / 26195.66 · P: 25914.97 · S: 25807.69 / 25634.28
The FTSE 100 closed Monday at 10761.33, up 0.29% and just above the pivot 10740.63 and both moving averages. RSI 14 at 54.9 is neutral. This is the prior close.
What to watch: The reaction to weaker metals and firmer oil at the 12:00 Dubai open.
Scenario: If price holds above 10740.63, the next resistance is 10796.57; if it falls below 10705.37, the next support is 10649.43.
R: 10796.57 / 10831.83 · P: 10740.63 · S: 10705.37 / 10649.43
This analysis is general market commentary for information only. It is not investment advice or a recommendation to buy or sell any instrument. Trading leveraged products such as forex and CFDs carries a high risk of losing money. Prepared with automated tools from a market data snapshot (Yahoo Finance prices, economic calendar, public news headlines); prices may be delayed.
Invvex ·
