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GOLD AND CRUDE OUTLOOK: 19-03-2017

GOLD AND CRUDE OUTLOOK: 19-03-2017
March 20
01:27 2017

CRUDE

Crude’s outlook is weak due to higher inventory in US.  The latest move by the OPEC and non OPEC producers are likely to cut 1.8 million barrels a day in the first half supported the market at lower levels.  Weak dollar and EIA report on crude oil stocks in US which is slated to be on March 22 can give minor support to the crude oil.  Crude has support at $46.81 per barrel and resistance at $51.74 per barrel.

GOLD

Gold recovered from the lower levels due to weak dollar, the yellow metal has support at $1208 per troy ounce and resistance at $1249 per troy ounce.

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ALEX MATHEWS

ALEX MATHEWS

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