Gold and Crude Oil Outlook

Gold and Crude Oil Outlook

Gold and Crude Oil Outlook

$GLD, $USO, $OIL

Gold has posted good gains in Tuesday’s session. In North American trade, Gold’s spot price is 1275.19, down 0.53% on the day.

On the release front

JOLT Job Openings edged up to 6.09%, easily beating the estimate of 5.98-M. Later today, Fed Chairwoman Janet Yellen will speak at an event in Washington, DC.

Crude Oil has surged and set up a new resistance at 56.28. Black Gold is trading at 1-year high. Expected to show further shot-term Bearish consolidation. The technical structure has a history of decent consolidation phase in here

Long-term, WTI Crude Oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. For the time being the Brent Crude and WTI Crude Oil lies seeing Northside momentum.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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