Ruble Bounced Back: What’s Next?
Gold tried to break the resistance area formed between the levels 1855 and 1835, but to no avail. Gold prices broke the level of 185.00 down and dropped, leaving a fine spike behind. Gold might pull from the resistance area and drop till the level of 1770+.
Brent oil tried to jump, closing Wednesday with a black candle, and signifying the potential drop. Oil is likely to drop till the supporting level of 77.82.
The price of USD/RUB tested the level of 70.50, forming a bearish trap and closing on Wednesday with a bullish engulfing. This asset should break the level of 71.50 and approach the downtrend somewhere around the level of 73.50.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.