Market Next

GOLD AND CRUDE OUTLOOK: 27-03-2017

GOLD AND CRUDE OUTLOOK: 27-03-2017
March 26
16:27 2017

CRUDE

Out- look of Crude is weak and it is likely to test $45 per barrel if the current situation persists.  Immediate support for the crude lies at $47.03 and $45.32 per barrel and resistance are at $ 48.81 and $ 49.14 per barrel.  Higher rig activities and higher inventories in US will keep the prices under check despite production cuts by the OPEC and non OPEC countries.

GOLD

Gold is positive due to weak dollar and higher demand ahead of BREXIT.  Gold has resistances at $1252.88 and $1264.37.   Gold has support at $1226.48 and $1212.50 per troy ounce.  Price declines can be utilised to enter into it for a medium term to long term perspective.

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles