Friday, April 27, 2018

Forex Trading News

Trade with TRADE.com

Trade with TRADE.com

FOREX NEWS AND MARKET ANALYSIS

Gold & WTI Crude Key Trade Levels - Strikes on Syria In Focus!

Author: Arslan Butt, Commodities & Indices Analyst/Monday, April 16, 2018/Categories: Live Market Updates

The commodities market including Gold and Crude Oil is supported due to airstrikes on Syria. During the weekend, the US, France, and Britain drove 105 missiles, targeting what they said were 3 chemical weapons facilities in Syria. This came in response to the suspected poison gas attack in Douma during the previous week.

 

Although Syria is not a chief oil producer, the Middle East is considered most important crude exporter and ongoing tensions between US and Syria tend to trigger anxieties that Crude Oil supplies will be interrupted.

 

Keeping this in mind, investors seem to be shifting their investments into Gold, which is increasing prices of the yellow metal. Let's look at the fresh trading levels for this week.

 

Gold - XAU/USD - Trading Levels

Support     Resistance

1334.12    1364.14

1324.84    1373.42

1309.83    1388.43

Key Trading Level:    1349.13

 

WTI - Crude Oil - Trading Levels

Support             Resistance  

S1: 61.96             R1: 63.75

S2: 61.40            R2: 64.30

S3: 60.50            R3: 65.75

Key Trade Level: $62.85     

 

Arslan Butt, Commodities & Indices Analyst

Arslan Butt is our Lead Commodities and Indices Analyst.

Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D.

Before joining fxleaders.com Arslan served as a senior analyst in a major brokerage firm.

GET THE 1 YEAR PREMIUM SERVICE FOR FREE!