The ascent continues
Gold has continued to climb towards our previous targets and the $1,300 range is still in sight but could be slowed down before it reaches there around $1,060/70 an ounce today/tomorrow. It needs to set itself up for another move forward before those higher figures are justified.
CRUDE OIL
Our oil view is still positive and could even touch the $107 resistance in the coming weeks, perhaps US winter.
RAND
Rand monthly shows us some interesting levels again down to 6.35 if the momentum continues. USD upside is not impossible, we watching that closely. The BOE just released their rate decision and it stayed at 0.50%, currently sterling is selling, USD strength (5 mins after release). Rand has shown a short in the past few minutes too on hourly.
ZAR3 INDICATOR
Our risk indicator has been eventually updated today and has come down from a very high risk level above -220. Currently it’s standing at -213 from -214 on Tuesday. Volatility has been very high in it the past week.
Kind regards
The Rand Report team
About this entry
You’re currently reading “The ascent continues,” an entry on The Rand Report
- Published:
- 10.8.09 / 1pm
- Category:
- Crude Oil, Gold, Long term report, Rand Report Risk Indicator, USD/ZAR, USD/ZAR DAILY, USD/ZAR MONTHLY, USD/ZAR WEEKLY
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