Brad Alexander
FX Large Limited
Yesterday, Gold hit a key level of support at around $1858 with the next key level below at $1840.
Of course, we need to see a break of support or a bounce off this upper trend line of a descending triangle which may be forming.
Both Brent Crude and WTI seem to be a “one-way” market these days with prices still climbing as demand returns.
Many traders are simply “buying the dip” on the H1 or shorter time frames.
We see both the NASDAQ and the S&P 500 hitting all time highs but Wall Street, or the Dow Jones Industrial Average, has slipped slightly but this gives investors and traders the chance to “buy the dip” here as well.
You may have noticed that Valutrades has introduced new Futures contracts on Crude Oil, Gold, the US Indices, and the DAX.
The advantage of futures is that you can Swing Trade (trade day to day or week to week) without paying any finance or Swap charges.
While we may offer market commentary based on fundamental or technical analysis, we do not offer trading advice and cannot be held liable for any decisions taken by viewers and readers of our material.
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