Good day,

Oil remains at the level of 68.00. Last Friday, oil price has closed with a bullish engulfing, a fact that signifies potential growth. Moving forward, oil might have to face the resistance at the level of 71.30. Although oil price will rather break the level of 71.30 and head up. It is interesting to observe what the asset’s price is about to do next to this level.

Having corrected till the supporting level of 4000, the US stock index S&P500 has recovered last week, targeting the level of 4200. So far, it seems that this asset might pull from this level and drop to prepare for new correction. However, it would be wise to check the price movements next to this level as the asset might still hit the new historical maximums.

Gold is moving forward, approaching a very dangerous zone – the upper boundary of downtrend. Of course, gold might pull and drop. Yet, the asset might also break the downtrend.

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