Commodities Daily Forecast Nov 01 2017


WTI oil: Bullish Eyes Further Upside!

As long as 54.30 support holds on a daily closing basis, the WTI Oil remains on the upside to the 55.73 levels, a halt is likely but a break will aim the 56.88 levels, further upside resistance stands at the 59.13 levels.

On the downside, support comes at the 54.30 levels, below 54.30 sees a pullback threats to the 52.93 levels before another rising, further down, will extend the pullback to the 51.57/50.88 levels before the next rising…

Conclusion: The WTI Oil continues to face upside threats above the 54.30 levels.

blankXAUUSD: Consolidates With Downside Bias!

as long as 1383/1291 resistance holds on a daily closing basis, the XAUUSD remains on the downside to the 1267 levels, a halt is likely but a cut would open 1258 levels, next support comes at the 1235 levels ahead of the 1228 levels.

On the upside, above 1283 will aim 1291 (main) where another fall is suggested, above 1291 will extend the recovery to the 1313 levels.

Conclusion: The XAUUSD faces downside threats below the 1291 levels.