Outlook for $US30 at 52400
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I saw $US30 hold above 52400 throughout the past trading day. The price is currently hovering around 52485.03, which is quite strong after facing some selling pressure in the morning. I think if it can maintain levels above 52400, there might be a chance to see it retest the 52600 level. However, if it breaks below 52400 and fails to hold, we might need to be cautious of potential selling pressure, as the market is quite volatile due to a lot of economic news recently. We also need to keep an eye on the CPI figures coming out next week.
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