Gold: Looks Ready To Lose Some Shine; While Oil Looks Ready To Add
Satendra Singh | Oct 16, 2018 09:20PM ET
Since eruption of Saudi’s tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook, Oil prices steadied. While Gold looks ready to retreat amid stock markets’ rallies. On analysis of the movement of Gold futures and WTI Crude Oil, I find opposite directional moves look ready to become steeper during the next few trading sessions. I find that the gold bugs will keep an eye over Wednesday's Fed minutes, I find further upward moves in gold futures, if the Fed minutes give some soothing hint on interest rates in near future. Let’s have a look at the following charts, what I expect from the Yellow and Black.
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