Gold and silver bounced hard in Asia as the dollar index slipped 0.36% to 101.505. Oil is little changed, while FTSE 100 and DAX 40 still show yesterday's closes until London opens at 12:00 Dubai time. Euro-area inflation at 14:00 and US ISM services at 19:00 are the main risks.
London ·
Gold is at 4032.4, up 2.33% and above R2 4019.67, though still below MA20 (4087.93). RSI 43.6 has recovered from weak levels. An Investing.com headline ties the jump to a softer dollar after the Democratic midterm wins.
What to watch: Whether gold holds the Asia high of 4020.3 after a fast move; today's high is 4033.2.
Scenario: If price holds above 4019.67, the next level is 4087.93; a drop back below 3980.03 would point to a fade toward the pivot 3942.07.
R: 4033.2 / 4087.93 · P: 3942.07 · S: 4019.67 / 3980.03
Silver is up 4.35% at 51.745, above R2 50.822 but far below MA20 (55.21). RSI 36.9 is still soft, so the bounce is early.
What to watch: The Asia range of 48.98 to 51.265 and the high at 51.87.
Scenario: If 51.265 holds, a break of 51.87 opens 53; back below 50.822 would weaken the rebound.
R: 51.87 / 53 · P: 49.377 · S: 51.265 / 50.822
WTI is at 96.39, almost flat at 0.31% and just above the pivot 96.17, between MA50 (95.32) and MA20 (98.53). RSI 48.2 is neutral.
What to watch: The Asia range of 94.9 to 97.15.
Scenario: Above 97.15 the next level is 98.74; below 94.99 the market may test 93.51.
R: 97.15 / 98.74 · P: 96.17 · S: 94.99 / 93.51
Brent is at 104.06, up 0.44%, sitting on the pivot 103.87 and MA50 (104.01) but under MA20 (109.51).
What to watch: The Asia range of 102.58 to 104.87.
Scenario: If Brent holds above 103.87, 104.87 then 106.94 come into view; below 102.58, 100.53 is next.
R: 104.87 / 106.94 · P: 103.87 · S: 102.58 / 100.53
The DAX 40 price is the previous close of 25864.62, down 0.45% but near the pivot 25859.92 and above MA20 (25453.59). RSI 56.4 is neutral to firm.
What to watch: Reaction to euro-area inflation at 14:00 Dubai time.
Scenario: Above 26041.98 the next level is 26219.34; below 25682.56, 25500.5 is next.
R: 26041.98 / 26219.34 · P: 25859.92 · S: 25682.56 / 25500.5
The FTSE 100 price is the previous close of 10638.43, down 1.14% and below the pivot 10679.37 and MA20 (10693.6). There is no live price before the open.
What to watch: The opening level against the pivot 10679.37 once trading starts at 12:00 Dubai time.
Scenario: If the index stays below 10679.37, 10597.43 is support; a move above 10720.33 would ease the pressure.
R: 10693.6 / 10720.33 · P: 10679.37 · S: 10597.43 / 10556.47
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 ·
