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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​​​WTI muted but gold, silver rally on slipping US dollar

​​Outlook on WTI, gold and silver as US inflation comes in softer-than-expected.

Source: Bloomberg

​​​WTI unchanged despite positive China data ​

​WTI continues to trade around the 200-day simple moving average (SMA) at $78.04 per barrel despite China retail sales beating forecasts and the country’s industrial output rising the most in six months. ​Potential slips may find support around the $77.60 late August low and the $77.11 high seen last Thursday whereas resistance above the one-month tentative downtrend line at $79.04 sits at Tuesday’s $79.66 high. A rise above this level would engage the 3 November low at $79.96 and the minor psychological $80.00 mark. Further up sits the $81.21 early October low which may well cap, if reached at all. ​A fall through last Wednesday’s $76.46 low would put the May high at $74.70 back on the cards.

Source: ProRealTime

​Gold price gets a boost from weaker greenback

​The gold price is seen recovering from its $1,932 per troy ounce Monday low as the US dollar is retreating in the face of softer US inflation. ​The precious metal is on track for its third day of gains and has so far managed to overcome the September high at $1,953 whilst gunning for the psychological $2,000 mark. ​Minor support can be found between the September highs at $1,953 to $1,947. ​More significant support can be seen along the October-to-November support line at $1,941, the 200-day simple moving average (SMA) at $1,936 and the current November low at $1,932.

Source: ProRealTime

​Silver price rises by over 4% in a couple of days

​The price of spot silver has surged as US inflation came in weaker-than-expected and as the US dollar slid with the August-to-November downtrend line at $23.20 per troy ounce having been breached and the 200-day simple moving average (SMA) at $23.26 being tested. ​Further up beckon the late September and October highs at $23.70 to $23.77. ​Support below Wednesday’s $23.04 low can be seen along the 55-day simple moving average (SMA) at $22.77.

Source: ProRealTime

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