FX168 Financial News (Hong Kong) - On Monday (November 19), gold has successfully been in a more bullish market in the past few days, while crude oil The slight rebound still looks a bit shaky, and the market is waiting for the speech of "No. 3" Williams of the Federal Reserve tonight.
Chris Beauchamp, market analyst of IG, wrote an article to analyze and predict the trend of gold and crude oil:
Gold turns again
The strong rise in the past three trading days may make Gold price Recovered lost ground last week.
The retreat of gold price last Friday may create a potential opportunity to buy, with the goal of $1225 and $1235.
Returning below 1210 marks a more bearish progress.
(Source of gold trend chart: IG, FX168 financial network)
US WTI crude oil climbed
Although the price of WTI crude oil in the United States rose successfully in the past few days, there were some selling at the end of each trading day, which led to the oil price breaking away from the intraday high.
The bargain hunters entered the market near $56, and we saw the oil price move up from the low point on the daily chart, but it is not clear whether the price has reached the bottom.
Moving above 59.40 gives bulls further comfort, but on the contrary, if it returns below 56 dollars, oil prices may suffer more selling.
(Source of crude oil trend chart: IG, FX168 financial network)
At 20:24 on November 16, Beijing time, spot gold was at $1220.44 per ounce, and WTI crude oil in the United States was at $56.71 per barrel.
Checked by: Calm down
