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.
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.
The remarks by Nigel Farage during the Brexit party's election event have sent the British pound higher…
The Reserve bank of New Zealand will release the monetary policy statement and its interest rate at 3:00 MT on November 13.
A calm trading session with the US-China trade updates in focus