Gold Continues to Drop to $2,853 Amid Strong Dollar, Higher Yields.
Gold continues to drop to $2,853 per ounce, weighed down by rising US bond yields and a stronger dollar, which has reduced the precious metal’s safe-haven appeal. If selling pressures persist, the price could test $2,840 as a major support, while $2,875 represents the first resistance for any recovery attempt.
Resistance 3
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
Support 3
2865.41
2861.81
2859.45
2855.73
2852.24
2850.10
2846.27
USOIL chart on the hourly time frame
Oil Recovers Some Losses, Stabilizes at $69.35 a Barrel.
Oil prices recovered slightly to $69.35 a barrel, after recent selling pressures pushed them lower. Volatility remains amid concerns over slowing global demand, while investors await US inventory data to determine the next direction. Key support is at $68.50, while $70.20 is a resistance area that could limit the upside.
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