Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
Gold: trade the sideways move
Information is not investment advice
Gold gives a perfect example of sideways movement. Throughout the entire week, it's been fluctuatin between 1 837 and 1 864. Curently, the trajectory is pointign upwards. Therefore, once it comes to 1 864 - and it will, eventually, as the fundamentals wlil unlikely keep the gold price down for long - watch for the trend reversal signs. If there are none, assume that the resistance of 1 864 is about to be broken. Otherwise, 1 837 is the support to watch. If it is penetrated, the lower one is at 1 817.
Gaspar Markosyan
Similar
Forex majors: short-term and long-term
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
CAD strengthened after oil surged
Oil prices surged Wednesday, with a sharp fall in US crude stockpiles adding to increased optimism the reopening drives in Europe and the US will boost overall fuel demand.
Popular
Indices are at record highs
In this article, you'll find the overview of stock indices and tech analysis of S&P 500.
Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
NFP Cheat sheet. How not to miss good trades?
Non-farm payrolls will come out on Friday at 15:30 MT (GMT+3). Let's get ready together!
Choose your payment system
