After a wild ride to the downside, gold price managed to yield a daily closing above the $1,800 mark on Wednesday, although bear retain control this Thursday amid firmer Treasury yields. The cautious market mood and a subdued US dollar index are helping put a floor under gold price.
From the overview of price, The price of GOLD seems to be in a bearish bias after breaking recent high to the downside and retested the minor support level between 1807 and 1802. We could see that the RSI and MACD are moving to the downside which signifies a bearish continuation of price.
UK shares rose in thin holiday trading on Wednesday with defensive stocks leading gains against the backdrop of Britain reporting a record number of COVID-19 cases and announcing there would be no new pandemic-related curbs this year.
The blue-chip FTSE 100 gained 0.7% following a two-day Christmas break and is on track for its best yearly performance since 2009.
From the overview of price we could see that the overall bias of UK100 is bullish. Price seems to have broken previous structure and may likely retest the support zone before heading to the upside.. We could see that the RSI and MACD are above the center line for a bullish continuation.
From the overview of price we could see that price has changed it bias to the upside and is approaching the resistance level between 0.93639 and 0.93159. We could also see that the RSI is almost overbought and the MACD crossover above the centerline will add to the confirmation of price to the downside.