Crude Oil Prices May Give Back Gains as Brexit Optimism Wanes 2019-10-14 05:00:00 Ilya Spivak , Sr. The move tellingly paced a sharp, broad-based recovery in the British Pound against the spectrum of its G10 FX counterparts. CRUDE OIL PRICES MAY GIVE BACK SOME GAINS AS BREXIT OPTIMISM WANES The way forward looks less rosy. The spotlight is now on the Queen, who will open a new session of Parliament with the government’s agenda today.
Trend development may be slow however as the US Columbus Day holiday drains liquidity. Stocks, oil futures and spot gold will continue to trade but the ever-important bond market will close alongside the US government. That might bring down participation and delay any substantive directional progress. GOLD TECHNICAL ANALYSIS Gold prices are trying to make good on a bearish Head and Shoulders topping pattern.
Follow-through has struggled to materialize thus far. A cluster of back-to-back resistance levels runs up through 60.84, with a breach of that exposing the 63.59-64.43 region. Crude oil price chart created using TradingView COMMODITY TRADING RESOURCES«.
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