Gold price to test upward momentum.
I see Gold comming off to the 1270 (around the 0.23 Fibonacci Retracement level) before advancing to the 1330 level, an upward trend shown consistent with the Pitchfork Analysis.
If Long at Friday's close level
Stop loss limit bellow 1270
Take Profit at 1330
Risk/Reward Ratio: 3.45
Weakening in the short-term, stronger in the long-run.
In the scenario of a lower crude oil inventory and Opec and Russian Crude Oil Export cuts, we identify a trading opportunity for a long-term position. Brent crude oil could move back to the moving average levels of $53/bl to then reassume a bullish pattern.
The crude oil market continues oversupplied just...