Thursday, February 4, 2021 3:13 AM EDT
The precious metal is posting modest declines a day after the precious metal fell over 1.2%. However, price action remains well supported above the 1817.80 level.
In the near term, we expect price action to remain trading flat within the 1850 and 1817.80 levels.
The Stochastics oscillator is currently slipping into the oversold level. This could indicate further near-term downside.
Stronger price action is, however, expected on the back of fundamentals. This is especially regarding the Coronavirus stimulus bill.
(Click on image to enlarge)
Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). ...
more
Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). Orbex LIMITED is licensed to provide Investment Services (Reception & Transmission, Execution and Dealing on own account) and Ancillary Services.
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, the level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
less
How did you like this article? Let us know so we can better customize your reading experience.