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    Gold continues to surge on Thursday

    © Dukascopy Bank SA
    "The yellow metal is being buoyed by the persistent uncertainty surrounding the Brexit vote, as well as underlying global growth and price risks." 
    – based on usagold.com 


    Pair's Outlook 
    The yellow metal marked its sixth consecutive session of gains on Wednesday, as after a highly volatile trading session, the metal ended day's trading at 1,363.35. On Thursday the bullion continued its surge, and it was trading at 1,367.70 by 5:15 GMT. At the moment, the metal has been testing the weekly R2 at 1,369.17 since yesterday, and, if the newly established upward trend continues, it is set to break past this resistance. In the meantime, daily aggregate technical indicators also indicate on a surge of gold today. 

    Traders' Sentiment 
    SWFX traders have not changed their positions for three days now, as on Thursday 58% of open positions were short. However, pending orders in the 100-pip range are still long, as 61% of orders are long.
    © Dukascopy Bank SA

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