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Bremain or Brexit? + MORE

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Similar to others in the financial market, movement of energy prices over the past week was driven by Brexit concerns. Both the front-month WTI and Brent crude contracts weakened most of the time last week as polls showed that supports for “leaving” EU was leading. Things began to reverse as pro-EU British MP Jo Cox was shot to death…

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Silver lost momentum ahead of 18.05 resistance and weakened. Initial bias is neutral this week. Overall, price actions from 18.05 are viewed as a consolidation pattern and could extend with another further. Hence, in case of another rise, we’d be cautious on strong resistance from 18.05 to limit upside…

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Gold’s break of 1306.0 resistance last week argues that the rally from 1045.4 has resumed. Further rise would now be seen to 61.8% projection of 1045.4 to 1306.0 from 1199.0 at 1360.1 next. On the downside, however, break of 1267.3 will dampen this bullish view and turn focus back to 1199.0 support instead…

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Bremain or Brexit?

– oilngold.com

Markets show a bit more risk on mode on Monday as concerns over the UK leaving the EU eased slightly. Undoubtedly, the focus of the week is the Brexit referendum to be held on June 23. The latest polling results suggest that support for the “leave” camp diminished after the death of the pro-EU PM Jo Cox…

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British pound extended rally against US dollar and the euro Monday, as ORB’s EU referendum poll showed 53% support on “remain” and 46% support on “leave”. Polls of polls by both Financial Times and whatukthinks.org revealed a neck-and-neck race. Investors were less nervous than last week when major polls showed that the “leave” camp was leading…

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