Crude Oil Prices May Extend Gains

Crude Oil Prices May Extend Gains

Crude Oil Prices May Extend Gains

Crude Oil Prices May Extend Gains by FxPremiere Group Live FX Signals Talking Points:

Crude oil prices soars as API data amplifies OPEC news-flow seen today.
Forex Gold prices left range-bound despite hawkish Ms Yellen comment today.

Crude oil posted the largest daily seen in weeks after API inventory data moved supportive OPEC news-flow.

Crude Oil Prices May Extend Gains

Crude Oil Prices May Extend Gains

GOLD TECHNICAL ANALYSIS – Gold prices continue to tread water above the $1100/oz figure. From here, a break below the 38.5% Fibonacci expansion at 1118.94 on a daily closing basis targets the 50% level at 1097.74. Alternatively, a turn back above the 23.6% Fib at 1145.50 exposes the 14.1% expansion at 1161.50.

CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices look set to test monthly resistance above the $53/bbl figure. Breaching the 54.63-55.02 area (38.2% Fibonacci expansion, trend line) on a daily closing basis exposes the 50% level at 56.08. Alternatively, a reversal below the 23.6% Fib at 52.84 targets the 23.8% expansion at 51.71. Reuters news.

Crude Oil Prices May Extend Gains

Crude Oil Prices May Extend Gains

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