Monday, 21 January 2019

DAILY COMEX OUTLOOK | TRADEWORLD 247

COMEX OUTLOOK GOLD AND CRUDE OIL


GOLD OUTLOOK XAUUSD

Gold/XAUUSD is facing a string resistance at 1300 mark even after 3-4 attempts it has failed to break that level however it is trading in a zone of 1276 - 1300 levels either side breakout will create a trading opportunity, but yesterday candle suggested a sell on rise strategy till 1276 levels Major Support is at 1276 Resistance at 1300.90.



BRENT CRUDE OIL 

Brent Crude Oil after a huge selloff in the last 2 months has shown some retracement it is retracing towards Fibonacci retracement level of 38.2% which is placed at 64.18 also there is swing high at 64.18 levels, Hence traders are advised to buy till 64.18 and then reverse their position for a fresh swing low Major resistance 64.18 and support 58.85.



FUNDAMENTAL NEWS 

Gold Prices Unable to Capitalize on US Dollar Pullback.
Crude Oil Prices Eye EIA and API Data, Gold Prices May Fall.
Gold Prices Aim Higher as Viacom Exits China, Souring Risk Appetite.
Crude Oil and Gold Prices May Fall on US Inflation Data.
Gold Price Chart Still Warns of Topping, Fed Chair Powell in Focus.

Crude Oil, Gold Prices Focused on FOMC Meeting Minutes.

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