Market Next

GOLD AND CRUDE OUTLOOK: 19-06-2017

GOLD AND CRUDE OUTLOOK: 19-06-2017
June 19
02:26 2017

Gold is weak due to high interest rates in US, and slow demand despite the geo-political tensions.  Gold has tested $1300 per troy ounce and now it is facing technical correction.   On the downward trajectory $1248 will act as a major support level.   It has resistance at $1281 in the medium term.  More intensified selling can be expected if Gold falls below $1248 mark.

Crude is weak, the weekly charts and monthly charts are indicating further more weakness in the days to come.  Crude has support at $41.68 per barrel and it could even fall below $40 mark due to high inventory in US.   OPEC nations decided to reduce out put to support the falling crude oil.  Crude has resistance at $47 in the medium term.

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment