Gold XAU / USD forecast for the week 17.04 - 04.21.2017
The last six trading weeks in a row shows growth of gold, and it is likely, there is a technical correction. Metal in demand due to geopolitical tensions in Syria. Now, this factor went by the wayside. Apparently this is a temporary phenomenon - the calm before the storm. Syrian issue has not been resolved and it is not known who and how it will do. Questions on Syria more questions than answers. Given the fact that the responses of inflation in the US, China and the euro zone in March showed declines in the CPI, we can expect that investors will take profits by "Long". Gold is highly dependent on inflation expectations in the world's largest economies, primarily in the United States. If inflation is reduced, for gold is a bad signal.
Gold XAU / USD recommendation for the week 17-21.04.2017: Sell 1287/1300, and take profit in 1255.
Brent crude oil forecast for the week 17.04 - 04.21.2017
Oil at the end of trading last week showed a downward correction, and it is likely this trend will continue in the new week. The main driver for the decline in oil prices will make the volume of production growth in America. Mining trade grows 8 consecutive weeks, and taking into account the release of weekly oil services company Baker Hughes, investors should not wait for oil to increase production capacity. The total amount of drilling is now in the United States is at the highest level since May 1, 2015. Over the last week the number of horizontal platforms increased by 11 units, and the vertical by 4 units. In periods when the rise both types of drilling rigs, we are seeing a significant increase in oil production.
US Department of Energy in the published report of 12 April indicated that following the results of 2017 the volume of production in the US will increase by 0.68 million. Barrels. In my view, this factor can be seen as a correction rather than a reversal. For the correction to 54.00 / 52.00 drivers that may be enough, but to fall below, you need to OPEC countries expressed reluctance to renew the agreement, to reduce the production volume at the May summit of the cartel in Vienna. While such news from leading energy powers have been reported.
Oil BRENT recommendation for the week 17.04 - 21.04.2017: Sell 55,70 / 57,00 and take profit 54,10.
S & P500 Index forecast for the week 17.04 - 04.21.2017
corporate reporting season in the US kicked off on a positive note, although bids last week resulted in declining prices. JPMorgan Chase and Citigroup have reported a net profit growth of 22.2% and 22.7% in annual terms. Double-digit growth rates are usually positively perceived by the market, but this time, shares of banks have shown only a short-term growth of quotations. Although he was impressive - about 2% of the total of the trading hour. The new week is to provide the following important statements: Bank of America, IBM, Visa, Goldman Sachs. Traders should wait for positive data on the background of accelerating economic growth in the first quarter, which will boost the stock price. According to the index, investors should wait flat trend since the index VIX fear shows an upward trend. In this regard, it is better not to sell the index at the upcoming week, and the shares of which are mentioned above. All shares have a trading terminals.
The S & P500 recommendation week: flat in 2310 - 2370.
Aleksandr Goryachev
Company analyst FreshForex
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