Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
GOLD: approaching $1,800!
Gold price broke $1,760 recently and is establishing itself now at these levels. The increased velocity and steeper curve of the bullish trajectory indicate that a further rise in this manner may take place up to the level of $1,780 putting finally beating the 2012 highs, but a further push will need more momentum. For this reason, we may expect bulls to keep pushing and make another $15-20 "in one strike", but then the price will likely stop to have a break. Reaching $1,800 is fundamentally inevitable and is nearing quite fast, but there will be few steps on the way to it still. Don't miss the train!
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
PMI reports from the EU, the UK, and the USA will be released during the day!