Gold and Oil - Review from October 16, 2024

Financial and commodity markets analytics


Gold

Gold quotations are near their historical high. If the downward trend resumes, the target range could be $2600-2620. The increase in volatility and development of a directional movement in either direction will be possible with the opening of the North American trading session.

Oil

Meanwhile, the price of oil is approaching the support zone identified earlier, located below the $68 level. A decision on a trade needs to be made based on the trading dynamics observed when testing this zone.