Market Analysis of Gold on Friday 24 December 2021
*Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
Gold intraday: the upside prevails as long as 1802.50 is support
Our pivot point stands at 1802.50.
Our preference
The upside prevails as long as 1802.50 is support.
Alternative scenario
The downside breakout of 1802.50 would call for 1795 and 1790.50.
Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Gold is trading above both its 20 and 50 period moving average (respectively at 1806.90 and 1806).
Market Analysis of Crude Oil on Friday 24 December 2021
*Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
Crude Oil (WTI) (G2) Intraday: further advance.
Pivot
72.45
Our preference
Long positions above 72.45 with targets at 75.20 & 76.45 in extension.
Alternative scenario
Below 72.45 look for further downside with 71.70 & 70.85 as targets.
Comment
The RSI is around its neutrality area at 50%
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