OUTLOOK: Price Signal Summary - Gold Still In A Corrective Cycle
Oct-27 11:29
On the commodity front, a sharp pullback in Gold last week appears corrective - for now. Note that the trend is overbought and a deeper retracement would allow this condition to unwind. Support at the 20-day EMA, at $4052.6, has been pierced. A clear breach of the average would signal scope for a deeper retracement, potentially towards the 50-day EMA, at $3832.4. Key resistance and the bull trigger has been defined at $4381.5, the Oct 20 high.
The latest recovery in WTI futures appears corrective for now, however, note that price has traded through resistance at the 50-day EMA, at $61.13. The breach of this average signals scope for a stronger recovery . A resistance at $62.34, the Oct 8 high, has been pierced. A clear breach of this level would expose key resistance at $65.77, the Sep 26 high. Key support and the bear trigger has been defined at $55.96, the Low Oct 20.
MNI EXCLUSIVE: Chinese Policy Advisors View on Trump-Xi Meeting
Oct-27 11:26
Chinese policy advisors give their view of the likely outcome of the Xi-Trump meeting -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
AUSTRALIA: Fitch Affirms Australia rating at AAA, Stable Outlook
Oct-27 11:25
"Fitch Ratings has affirmed Australia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook."