The price of Gold has been moving up as the mood on the market changed after Friday’s Non-farm payrolls. Some traders are afraid that Fed might stop its tapering of monetary stimulus as the labour market showed two times in a row weak data. However, we should not forget that the unemployment rate came out 6.6% which is the lowest since November 2008 and it might point on not precise labour data. In that case we should see later reversal and fall. We should be careful with long buying position and wait for short sell opportunities. The support is now lying at 1,252 and resistance at 1,279.
The price of Crude Oil WTI peaked on Friday to its maximum since December 26th and broke the psychical level of $100/barrel. The price was influenced by weak U.S. labor data which came out unexpectedly low. However, the figures might be lower just because of weather and not show the real performance of labor market. We should now look for short sell position as the price might correct the rapid increase and wait for trading opportunity connected with Fed testimony on Tuesday and Thursday.
February 10, 2014 – Commodities News
Hot Asset For Today: Crude Oil WTI
The price of Gold has been moving up as the mood on the market changed after Friday’s Non-farm payrolls. Some traders are afraid that Fed might stop its tapering of monetary stimulus as the labour market showed two times in a row weak data. However, we should not forget that the unemployment rate came out 6.6% which is the lowest since November 2008 and it might point on not precise labour data. In that case we should see later reversal and fall. We should be careful with long buying position and wait for short sell opportunities. The support is now lying at 1,252 and resistance at 1,279.
The price of Crude Oil WTI peaked on Friday to its maximum since December 26th and broke the psychical level of $100/barrel. The price was influenced by weak U.S. labor data which came out unexpectedly low. However, the figures might be lower just because of weather and not show the real performance of labor market. We should now look for short sell position as the price might correct the rapid increase and wait for trading opportunity connected with Fed testimony on Tuesday and Thursday.
Related Posts: