Market Next

CRUDE AND GOLD OUTLOOK: 20-02-2017

CRUDE AND GOLD OUTLOOK: 20-02-2017
February 19
15:07 2017

CRUDE

Crude oil is trading sideways, on one side production curbs by OPEC and non OPEC partners and on the other side high production and higher inventories in US.    Crude is likely to trade in a narrow range of $52.20- $54.04.  A decisive move above or below these rates can give a firm market outlook.

GOLD

Gold prices are also showing sideways movements with a positive bias.  Gold has resistance at $1253.30 per troy ounce and support at $1232.36 and $1219.47 per troy ounce.  Possible rate hike fears will keep investors sidelines.

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles