Oil Marks Time But Gold Looks Wobbly

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Oil Marks Time But Gold Looks Wobbly

investing.com2021-08-06

Oil Stages A Modest Recovery The corrective rally that started in Asia yesterday extended through to the New York session as physical bargain hunters emerged. Brent crude was 1.30% higher at $71.30 a ...

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Joanne123
·2021-08-06
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Marks Time But Gold Looks Wobbly\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 15:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investing.com/analysis/oil-marks-time-but-gold-looks-wobbly-200596637><strong>investing.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oil Stages A Modest Recovery\nThe corrective rally that started in Asia yesterday extended through to the New York session as physical bargain hunters emerged. Brent crude was 1.30% higher at $71.30 a ...</p>\n\n<a href=\"https://www.investing.com/analysis/oil-marks-time-but-gold-looks-wobbly-200596637\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_UKOIL","symbol_name":"现货布兰特原油","start_time":0,"source_url":"https://www.investing.com/analysis/oil-marks-time-but-gold-looks-wobbly-200596637","article_id":"1156704911","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156704911","pubTimestamp":1628233683,"sourceInfo":{"source_id":"lsy1594375853987","name":"英为财情Investing"},"weMediaInfo":null,"summary":"Oil Stages A Modest Recovery\nThe corrective rally that started in Asia yesterday extended through to","collect":0,"end_time":0,"defaultTopTitle":"investing.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"石油标志着时间，但黄金看起来摇摆不定","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLmain":0.9,"GOLDmain":0.9,"UKOILmain":0.9},"content_text":"Oil Stages A Modest Recovery\nThe corrective rally that started in Asia yesterday extended through to the New York session as physical bargain hunters emerged. Brent crude was 1.30% higher at $71.30 a barrel, and WTI rose by 1.60% to $69.20 a barrel. Both contracts are 10 cents higher in subdued pre-US-data Asian trading.\nI continue to believe that any deeper sell-off in oil, while entirely possible on speculative culling, will be short-lived and followed by equally vigorous rallies. The US Nonfarm Payrolls today could be good for a directional move either way.\nBrent crude has support at $70.00 a barrel, and then its 100-DMA just below at $69.75 a barrel. Failure of the 100-DMA could see another reactionary spike lower, potentially reaching the July 20 low at $67.50 a barrel; however, this is not my base case.\nSimilarly, WTI has support at $68.00 a barrel, followed closely by its 100-DMA at $67.20 a barrel. Again, failure of $67.20 could see a snap reaction lower, targeting the 20th of July low at $65.10 a barrel. I would not expect it to linger long at those lower levels, however.\nGold Looks Fragile\nThe US dollar remained firm, but US yields rose slightly yesterday, pushing gold prices lower once again. Gold fell 0.43% to $1804.00 an ounce, to just below the 100-DMA at $1804.50 an ounce, an ominous technical development. Prices continue to sag in Asia pushing gold 0.23% lower to $1800.00 an ounce.\nGold’s price action remains very poor, with its rapid retreat from multi-day resistance around $1830.00 an ounce, a significant red light. Its inability to withstand even modest US dollar strength or slightly higher US yields is an0other warning sign, signalling the bullish traders appear to be running out of patience. Gold looks increasingly likely to stage another substantial move lower to wash out stale long-positioning.\nFor gold to hold above $1800.00 an ounce, it will need today's NFPs to be very weak. A robust payrolls number will likely see a failure of major support just below at $1790.00 an ounce. That will signal a more significant move lower, targeting $1750.00 an ounce in the days ahead. Hold has nearby resistance at $1805.00, today’s 100-DMA, followed by the 200-DMA at $1820.00 an ounce. 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Both contracts are 10 cents higher in subdued pre-US-data Asian trading.</p>\n<p>I continue to believe that any deeper sell-off in oil, while entirely possible on speculative culling, will be short-lived and followed by equally vigorous rallies. The US&nbsp;Nonfarm Payrolls today could be good for a directional move either way.</p>\n<p>Brent crude has support at $70.00 a barrel, and then its 100-DMA just below at $69.75 a barrel. Failure of the 100-DMA could see another reactionary spike lower, potentially reaching the July 20 low at $67.50 a barrel; however, this is not my base case.</p>\n<p>Similarly, WTI has support at $68.00 a barrel, followed closely by its 100-DMA at $67.20 a barrel. Again, failure of $67.20 could see a snap reaction lower, targeting the 20th of July low at $65.10 a barrel. I would not expect it to linger long at those lower levels, however.</p>\n<h3><b>Gold Looks Fragile</b></h3>\n<p>The&nbsp;US dollar&nbsp;remained firm, but US yields rose slightly yesterday, pushing&nbsp;gold&nbsp;prices lower once again. Gold fell 0.43% to $1804.00 an ounce, to just below the 100-DMA at $1804.50 an ounce, an ominous technical development. Prices continue to sag in Asia pushing gold 0.23% lower to $1800.00 an ounce.</p>\n<p>Gold’s price action remains very poor, with its rapid retreat from multi-day resistance around $1830.00 an ounce, a significant red light. Its inability to withstand even modest US dollar strength or slightly higher US yields is an0other warning sign, signalling the bullish traders appear to be running out of patience. Gold looks increasingly likely to stage another substantial move lower to wash out stale long-positioning.</p>\n<p>For gold to hold above $1800.00 an ounce, it will need today's NFPs to be very weak. A robust payrolls number will likely see a failure of major support just below at $1790.00 an ounce. That will signal a more significant move lower, targeting $1750.00 an ounce in the days ahead. Hold has nearby resistance at $1805.00, today’s 100-DMA, followed by the 200-DMA at $1820.00 an ounce. That is followed by a series of multi-day highs between $1830.00 and $1834.00 an ounce, which is now a very formidable barrier to further advances in the near term.</p>","source":"lsy1594375853987","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Marks Time But Gold Looks Wobbly</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Marks Time But Gold Looks Wobbly\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 15:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investing.com/analysis/oil-marks-time-but-gold-looks-wobbly-200596637><strong>investing.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oil Stages A Modest Recovery\nThe corrective rally that started in Asia yesterday extended through to the New York session as physical bargain hunters emerged. Brent crude was 1.30% higher at $71.30 a ...</p>\n\n<a href=\"https://www.investing.com/analysis/oil-marks-time-but-gold-looks-wobbly-200596637\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investing.com/analysis/oil-marks-time-but-gold-looks-wobbly-200596637","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156704911","content_text":"Oil Stages A Modest Recovery\nThe corrective rally that started in Asia yesterday extended through to the New York session as physical bargain hunters emerged. Brent crude was 1.30% higher at $71.30 a barrel, and WTI rose by 1.60% to $69.20 a barrel. Both contracts are 10 cents higher in subdued pre-US-data Asian trading.\nI continue to believe that any deeper sell-off in oil, while entirely possible on speculative culling, will be short-lived and followed by equally vigorous rallies. The US Nonfarm Payrolls today could be good for a directional move either way.\nBrent crude has support at $70.00 a barrel, and then its 100-DMA just below at $69.75 a barrel. Failure of the 100-DMA could see another reactionary spike lower, potentially reaching the July 20 low at $67.50 a barrel; however, this is not my base case.\nSimilarly, WTI has support at $68.00 a barrel, followed closely by its 100-DMA at $67.20 a barrel. Again, failure of $67.20 could see a snap reaction lower, targeting the 20th of July low at $65.10 a barrel. I would not expect it to linger long at those lower levels, however.\nGold Looks Fragile\nThe US dollar remained firm, but US yields rose slightly yesterday, pushing gold prices lower once again. Gold fell 0.43% to $1804.00 an ounce, to just below the 100-DMA at $1804.50 an ounce, an ominous technical development. Prices continue to sag in Asia pushing gold 0.23% lower to $1800.00 an ounce.\nGold’s price action remains very poor, with its rapid retreat from multi-day resistance around $1830.00 an ounce, a significant red light. Its inability to withstand even modest US dollar strength or slightly higher US yields is an0other warning sign, signalling the bullish traders appear to be running out of patience. Gold looks increasingly likely to stage another substantial move lower to wash out stale long-positioning.\nFor gold to hold above $1800.00 an ounce, it will need today's NFPs to be very weak. A robust payrolls number will likely see a failure of major support just below at $1790.00 an ounce. That will signal a more significant move lower, targeting $1750.00 an ounce in the days ahead. Hold has nearby resistance at $1805.00, today’s 100-DMA, followed by the 200-DMA at $1820.00 an ounce. That is followed by a series of multi-day highs between $1830.00 and $1834.00 an ounce, which is now a very formidable barrier to further advances in the near term.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5444869,"gmtCreate":1628235389221,"gmtModify":1663232011646,"authorId":3580525223233841,"author":{"id":3580525223233841,"idStr":"3580525223233841","authorId":3580525223233841,"name":"傑J","avatar":"https://static.tigerbbs.com/27b2c01ca36bff98bc60b700de0dfe37","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"80.12%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":893970001,"type":1,"supId":0,"prevId":0,"content":"Liked ","text":"Liked ","html":"Liked "}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":14,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}