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GOLD Forecast. Heading to higher. 1255 on view

FXPRO

GOLD Forecast. Medium term outlook.

Currently we are buying GOLD.

We are targetting 1235, 1250.

Current price (Monday 6th) is 1221 and already engaging for higher prices. Even if pullbacks down a little, possibly to 1205 max/around, we can see it going up again to head to targets above.

Trading Idea

As mentioned above, pullbacks can occur in the process, which we can use for buying opportunities. 
Charts 1h, 4h and D1.

Can GOLD go much higher?

Too soon to answer the question, but the possibility for GOLD to go much higher (1290, 1300) is becoming possible. We will wait some more in order to have a more clear view. But currently this possibility is still fragile. (Updates and signals in the Trading room)

 

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WTI OIL, Poised to lower prices. $28.00 in the near future.

FXPRO

WTI OIL Forecast. Medium to long term outlook.

WTI OIL, Yes we know the story, OPEC, Saudi Arabia, Iran, Russia... and their "desire" to "cut or freeze" production. Well, last 28th Sept. they said they have an agreement. But this agreement will only be revealed on November. 

Looking farther,

We think any agreement will not last (for long time). 

We can have the price of Oil going up to 55.00, 60.00 (around) and start to drop again down to 40.00, 30.00, and lower is not impossible. (Medium Long term)

Trading Idea

Currently (around 50.50) we can continue buying a little bit targetting around 55.00, 60.00, but will have to be ready to sell in case of surprise.   

The meeting in November is on eyes.

Now, Looking even farther:

USA - RUSSIA Tensions. Should this situation scalate, we can probably have some changes and have Oil price to go up a little bit, but in the long term still the Oil price to go down. (Updates and signals in the Trading room)

 

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