Commodities Daily Forecast Jan 14 2020

Forex -oil 99862 asd_share

WTI Oil: Bearish Eyes Further Weakness…

As long as 60.00 resistance holds on a daily closing basis. The WTI Oil remains on the downside to 57.30 levels. A halt is likely but a cut opens 55.00 levels ahead of 52.50 levels. On the upside, immediate resistance comes at 59.00 levels ahead of 60.00 levels (main). A break above 60.00 levels brings recovery threats to 61.15 levels. Above 61.15 will extend the corrective recovery to 63.00 levels. In conclusion: WTI Oil sees downside treats below 60.00/59.00 levels.

Support: 57.30, 55.00, 52.50, 50.00

Resistance: 59.00, 60.00, 61.15, 63.00

Commodities Daily Forecast Jan 14 2020- WTI OilXAUUSD: Sees Corrective Pullback Threats…

As long as 1556/1577 resistance holds on a daily closing basis. The XAUUSD remains in a corrective pullback mode and further down couldn’t be ruled out. Support comes at 1531 levels ahead of 1518/1509 levels. On the upside, Above 1577 restores the upside momentum and aims the 1611 levels ahead of 1650 levels. In conclusion: The XAUUSD sees fall threats below 1556/1577 levels.

Support: 1531, 1518, 1509, 1485, 1477

Resistance: 1556, 1577, 1611, 1650, 1700

Commodities Daily Forecast Jan 14 2020- XAUUSDKey data/events which may affect the Commodities market today:
  • The U.S will report on consumer price inflation at 13:30 GMT. The forecast is to remain unchanged as the previous month at 0.3%.
  • The U.S will also report on core consumer price inflation at 13:30 GMT. The forecast is to remain unchanged as the previous month at 0.2%.
  • FOMC Member Williams Speaks at 14:00 GMT.

MARKET DATA

UPCOMING ECONOMIC EVENTS