12 Jul 2013
Gold below $1290, Oil above $104
FXstreet.com (Barcelona) - Gold is currently stable around the $1284 level, ahead of later on US PPI data at 12:30 GMT and UoM consumer sentiment numbers, due at 13:55 GMT.
Silver in the other hand has managed to climb above the $20 handle, last at $20.01 off recent session highs at $20.29, dealing with key May 20's bid line, attempting to reverse from latest downward trend.
For Oil, “The commodity is now consolidating around the 4hr 20ema and key role reversal level at 103.98,” said 2ndSkiesForex founder Chris Capre, adding: “If this level cracks, then we could see some more serious unwinding, putting 102.31 on deck and potentially 100.75.”
Silver in the other hand has managed to climb above the $20 handle, last at $20.01 off recent session highs at $20.29, dealing with key May 20's bid line, attempting to reverse from latest downward trend.
For Oil, “The commodity is now consolidating around the 4hr 20ema and key role reversal level at 103.98,” said 2ndSkiesForex founder Chris Capre, adding: “If this level cracks, then we could see some more serious unwinding, putting 102.31 on deck and potentially 100.75.”