commodities Fundamental analysis aaab
2017-08-13 09:21 am | Resource: | No Views : 834
the fundamental analysis of the gold.the gold has declined from its levels in the Friday trading session, and we expect the gold to maintain its bullish trend, because of the weak US which dampens the possibility of another federal reserve rate hike data, besides the tension in North Korea ,all this fundamentals are pushing the price of the yellow metal up.
The gold closed on Friday upside 1258$ level, and if maintain its price upside this level, we expect the gold to maintain its bullish trend.
The fundamental analysis of oil.The price of the oil has reached 50$ today, which is its highest price since two months, The price of oil maintain its bullish trend supported with the fall of USA oil reserve and the fears of penalties on Venezuela, as US officials said that the administration of Mr president Donald trump, might sign penalties on the sector of oil in Venezuela.
Oil has bounced about 10% of its price ,since the meeting of OPEC members and non OPEC members like Russia ,and the members have declared the commitment to support the price of oil by decreasing the supply in the global market.
So, based on this fundamentals, we expect the oil to bounce in the next few days.
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. The USDJPY is still facing resistance and selling pressure around the resistance level of 109.07 trying to breach this level to the upside, but we note that the USD/JPY moves between the upper boundary and the moving average line of the Bollinger indicator. In view of the technical indicators Both the RSI…
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