Energies
Gold prices continue to break new highs as fear in the markets grow and demand for safe haven shows no slowing down. On Monday, the price of gold ounce increased almost 3% to reach a new all-time high at $3,431
And in early trading today, gold adds more gains as the precious metal now trades a few dollars away from the next major level $3,500
Despite the RSI moving in the overbought zones above 70, gold shows no signs of slowing down thanks to the strong fundamentals pushing prices higher.
Important support levels to watch out for are $3,473 and $3,443
The US dollar selling against major currencies continues. USDJPY fell below 140.00 a major psychological level. The pair is facing dynamic resistance levels at the moving averages MA(5), MA(10), and MA(30)
More declines are expected as the dollar index (DXY) shows weakness.
Important resistance levels to monitor closely are 140.35 and 140.86
US indices fell sharply yesterday following Trump’s remarks. The Dow Jones Industrial Average futures are trading near their recent lows. More drops are expected today with major resistance levels to watch out for at 38,455 and 38,629.
The index is expected to face moderate buying pressure at the support level of 38,112
The Moving Average MA(10) is acting as a dynamic resistance for prices on the hourly chart.
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