Major market forecast: Gold, S&P500, Oil - Oanda
Gold clocked a one-month high of $1297/Oz levels today as Trump lead in the latest polls forced investors out of equities (S&P 500) and into the safe haven assets.
That’s not all… Oil prices have dropped sharply this week. More importantly, both benchmarks have breached the rising trend line coming from Feb lows and August lows. We talk to Craig Erlam, Senior Market Analyst at Oanda, who sheds light on the macro and micro (technical) outlook for the major markets.
Watch the full segment to know whether-
· The sudden rise in gold is here to stay? · The S&P 500 index is likely to breach 200-DMA support · And if the breach of a key trend line support marks a major trend reversal in oil benchmarks.
The USP of this segment is Erlam’s discussion of the technical charts supplemented by the macro/fundamental arguments.
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