Gold XAU / USD forecast for the week
In the first half of the week, you can expect a decrease in quotations on the background of the strengthening of the US dollar and rising stock markets. Both factors are negative for the yellow metal.
The culprit turned out to be the ECB, which on Thursday announced the extension of the stimulus program until the end of 2017. The S & P500 is against this background install a fresh historical high, and this tool has a strong inverse correlation with gold. I think that the US Federal Reserve on Wednesday will raise interest rates by 0.25% on 14 December on the dollar and can demonstrate a correction, which has a positive impact on the quotes of the precious metal.
Gold recommendation: the Sell 1165/1180, to take -profit in 1150.
Net Brent forecast for the week
Two reasons for the price decline.
First, published on Friday on the release of oil services company Baker Hughes indicates that on Wednesday we can see the growth in US oil inventories. Baker Hughes has reported an increase in the number of drilling rigs in North America: the United States and Canada on 21 and 17 units, respectively. It should also be noted that the increased number of vertical drilling platforms which are themselves effective in oil 4 units in the US. This trend is quite expected, since the black gold prices skyrocketed, and US oil companies rushing to extract from it the maximum benefit.
Second, as noted earlier, the US Federal Reserve will raise interest rates by 0.25%, which will have a negative impact on oil because energy costs are denominated in US currency.
Oil recommendations: Sell 54,70 / 55, 50 , take profit 53,10.
S & P500 Index forecast for the week
The euphoria in the US stock market rolls over, but now buy quite dangerous. I expect the development of the side trend in the coming week. broad market index can update the historical maximum against the background of positive macroeconomic statistics. On Wednesday, before the announcement of the FOMC outcome of the meeting will be published a report on retail sales for November and against a background of considerable consumer confidence growth of CB (with up to July 2007), as well as higher sales in the "Black Friday" - can be expected to yield strong data. Then we can expect profit-taking on long positions on the outcome of the US Federal Reserve meeting.
S & P500 Index recommendations: flat to within the range of 2235-2285.
Aleksandr Goryachev
Company Analyst FreshForex
