#tradeworld247

FUNDAMENTAL NEWSGold Prices Aim Higher as Viacom Exits China, Souring Risk AppetiteCrude Oil and Gold Prices May Fall on US Inflation DataGold Price Chart Still Warns of Topping, Fed Chair Powell in FocusCrude Oil, Gold Prices Focused on FOMC Meeting MinutesGold Price Chart Hints at Top Before FOMC Minutes, Powell SpeechCrude Oil Price Rebound May Struggle on US, China Trade War Fear TRADEWORLD 247 | XAUUSD AND BRENT CRUDE OIL

Gold/XAUUSD & Brent Crude Oil two major trading commodity in comex market. TW247 providing technical and fundamental view of comex market and world trend news based trade.

GOLD OUTLOOK

Gold/XAUUSD is forming higher high higher low on the daily charts it is facing some resistance at 1300 mark but once it crosses we will swift move coming on the upside all indicator are suggesting a buy hence we recommend buy on dips strategy by keeping a strict stop loss Major Support is at 1280.30 Resistance at 1300.90

CRUDE OIL Outlook

Brent Crude Oil has seen some retracement from lower levels it is making lower lows and lower highs on a daily chart however we have seen momentum indicators coming out of a oversold zone hence we recommend sell on rise strategy till it breaks above 64 mark

Major resistance 62.10 and support 57.70.

FUNDAMENTAL NEWS

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

Gold Price Chart Hints at Top Before FOMC Minutes, Powell Speech

GOLD OUTLOOK

Gold/XAUUSD is showing some fatigue at higher levels it is facing resistance at 61.8% retracement level of previous swing on a daily charts we feel like it will give some gains back till 1275 levels and there is a strong resistance at 1300 odd levels hence it is advised to either wait for the breakout above 1300 levels or sell keeping a sl of 1299

Major Support is at 1282.70 Resistance at 1300.90

Brent Crude Oil Outlook

Brent Crude Oil after almost falling 40% in a 3 month time showing some strength or we can say seeing some retracement it is expected it to test Fibonacci retracement level of 38.2% placed at 64.18. This level was tested a month back when it is trying to sustain around 60 odd levels but failed to do so, Hence it is advised to hold position till 64.18 levels, All momentum indicators was coming out of oversold zone.

Major resistance 62.10 and support 60.25.

Fundamental news

Gold Price Chart Still Warns of Topping, Fed Chair Powell in Focus

Crude Oil, Gold Prices Focused on FOMC Meeting Minutes

Gold Price Chart Hints at Top Before FOMC Minutes, Powell Speech

Crude Oil Price Rebound May Struggle on US, China Trade War Fears

Gold Prices May Extend Advance as US Jobs Data Disappoints

EURUSD is trading between its consolidation phase between 1.1200-1.1500. Currently pair is trading at 1.1440. Nearby support and resistance are at 1.1310 and 1.1485.We are expecting upside movement in this pair today. For short term traders it is advised that they should keep adding their positions in long side on every dip in pair.