USOIL Rises on Renewed Russia-West Tensions
Russian President Putin signed a partial military mobilization today and oil prices move higher on renewed energy fears
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Russian President Putin signed a partial military mobilization today and oil prices move higher on renewed energy fears
Gold has been under pressure since real rates turned positive in late April. The market expects an aggressive Fed tomorrow, weighing on the precious metal.
XAU/USD draws to the end of a bad week and breaks below key technical support, as expectations of another big rate hike by the US central bank work in the greenback’s favor
Given the need to control inflation, the prospect of higher interest rates is a headwind for gold. As such, in our view, the probability of lower prices is the path of least resistance.
Oil prices plunged over the summer, which has led to the technical formation of a death cross, but USOil tries to put up a fight, in the aftermath of the recent production cut by OPEC+
The Saudis cut oil production, but the oil markets remain in a downtrend. This weakness is ominous and primarily reflects the demand destruction.
Oil's underlying momentum is biased to the downside.
Gold remains under pressure as capital seeks real return.
The shorter-term chart is at support. This may provide a platform for long positions.
Oil momentum turns positive on the Saudi energy minister's comments.
Gold has charted an ascending wedge on its hourly time frame.
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