(USOIL)WTI takes a breather
(USOIL)WTI looks to shake off the recent pullback after dipping below 70.00. A close above the previous swing high of 70.50 could open the door to a broader recovery in the medium-term by forcing sellers to cut their losses. A bullish divergence could alleviate the pressure with 71.80 as the next target. The RSI’s move into the neutral area could cause a limited fallback, and the base of the momentum at 68.60 is the level to assess follow-up bids.
GBPUSD feeling the pressure
The pound fell further as the Fed held firm on its interest rate, propelling the greenback in the process. A new low below 1.3300 suggests a bearish continuation after the recent rally. A continuous downbeat market sentiment could attract more trend followers. The psychological level of 1.3200 is next, where support could be met. As the RSI ventures into the oversold area again, 1.3260 is the closest resistance as a slight bullish divergence emerges.
XAUUSD bounces back
Gold looks to test the recent high at 3230 after retracing from yesterday’s downturn. Prices seem to have found a solid foundation at 3300, from where the bulls hope the precious metal will hit support. 3270 at the recent low serves as a fresh support level to maintain the rebound momentum. On the upside, a break at the previous top could pave the way to a break at 3360 and then another rally towards a fresh high.
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