Market Next

GOLD AND CRUDE OUTLOOK: 11-09-2017

GOLD AND CRUDE OUTLOOK: 11-09-2017
September 17
16:15 2017

Gold is very positive on the charts and it is likely to move towards $1363 and $1371.  Support can get at $1346 per troy ounce.  Weak dollar, weaker than expected US jobs data, firm Euro and rising geo-political tensions will keep the gold prices firm in the short term.  It is prudent to reduce long positions at higher levels due to overbought situation.

Crude is weak after most of the refineries in US re-started after storm Harvey and weak dollar will keep the crude.  Crude has support at $45.92 and resistances at $ 48.50 and $49.23 per barrel.

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles