All articles tagged with #technical outlook
Palantir stock has shown a strong technical outlook, forming a new base and nearing its all-time high, driven by growth in government and commercial sectors, enthusiasm for AI, and positive technical ratings, making it a potential buy despite its premium valuation.
The technical outlook for gold is positive as the market awaits the release of the US Core PCE Price Index, which is expected to show a slight decrease in November. If the data aligns with market forecasts, the Federal Reserve will face challenges in justifying the need to maintain current interest rates. Gold is currently testing resistance levels and finding support at the 20-day simple moving average. A break above resistance could lead to further gains, while a break below support may leave the precious metal vulnerable. Retail trader data suggests a bearish sentiment, but the contrarian view takes into account the possibility of gold prices continuing to fall.
Gold prices remain rangebound as market participants await the US jobs report, with US 10-year yields hitting a three-month low and safe-haven appeal supporting the precious metal. Silver is eyeing a bullish continuation after a retracement into a key confluence area. The technical outlook for gold shows it caught in a range, while silver may continue its recent bullish move. The upcoming jobs report and Fed meeting will likely impact metal prices in the short term. Overall, the metals sector is expected to rise in 2024 due to growing demand and geopolitical uncertainty.