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.
Disclosure
1. This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.
2. Remember, YOU push the buy button and the sell button. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from an investment and/or tax professional before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.