Analyst: Gold futures technical pattern remains bearish
According to Golden Ten Data on June 5, based on a report by RHB analyst Joseph Chai, the bearish technical pattern of Comex gold futures remains intact from the daily chart perspective. The analyst stated that although the latest bullish candlestick pattern indicates that selling pressure is “slightly pausing,” the overall technical pattern remains bearish. Chai pointed out that the market should pay attention to the fact that futures prices are still below the 20-day and 50-day simple moving averages.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Deutsche Bank: Changes in Investor Positions and Capital Flows
New Generation of Crypto Miners Released by ASICID
BUZZ - Levi Strauss shares drop due to weak sales in the US and Europe
On October 8, Levi Strauss (LEVI.N) shares fell 1.3% in pre-market trading to $19.25 after the company reported lower-than-expected sales in the U.S. and Europe. BTIG commented: “This quarter, the European direct-to-consumer (DTC) business was hit by unusually warm weather, but as temperatures return to normal, foot traffic and sales trends have improved, maintaining a positive outlook in early Q4.” The brokerage also noted that the company remains strong in wholesale, e-commerce, and market share in jeans, but its “back-to-school” marketing campaign did not meet expectations. Benefiting from tariff refunds on Wednesday, the company raised its annual profit forecast and is betting on strong demand for its premium jeans and sweaters during the holiday season. Sixteen analysts have an average “buy” rating; the median price target is $27, according to LSEG. The stock has risen 6% year-to-date as of the previous close.
Oil: Prices supported by supply risks and Iran tensions – Danske Bank
Crypto prices
More
