The rally for the yellow metal

The rally for the yellow metal

The dovish Fed pushed the price for the yellow metal up. On the H4, after reaching the resistance at $1,387, bulls need to prove their strength by breaking this level. After the breakout, the further rise will be limited by the next resistance at $1,423. From the downside, there is a support at $1,353, after that the next support levels will be placed at $1,341 and $1,333.

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Oil market updates on October 23

According to yesterday’s news OPEC is considering further production cuts. The next meeting of oil-producing countries is scheduled for December 5-6. The announcement pushed the oil prices up yesterday.

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