Gold Prices Look to Fed-Speak, Crude Oil Eyes Kurdish Referendum

What are the fundamental forces driving long-term crude oil price trends? Find out here!

GOLD TECHNICAL ANALYSIS – Gold prices eye support at 1281.26, the 50% Fibonacci retracement, after sellers secured a foothold below the $1300/oz figure. A daily close below that exposes the 61.8% level at 1263.27. Alternatively, a move back above the 38.2% Fib at 1299.25 sees the next upside barrier at 1321.51, the 23.6% retracement.

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices are back in digestion mode after rising to a four-month high. From here, a daily close above resistance marked by the May 25 top at 51.97 exposes peaks in the 53.74-54.48 area. Alternatively, a move back below 50.40 paves the way for a retest of the September 6 high at 49.49.

Chart created using TradingView

— Written by Ilya Spivak, Currency Strategist for

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