Commodities Brace for Busy Week as Gold Prices Slip and Draw Interest
TL;DR Summary
The weekly forecast for gold is bearish as prices continue to decline after a volatile week, with potential support levels at $1985, $1960, and $1951. Silver's price action also shows a consistent move lower, with support levels at the 50 SMA and the 38.2% Fibonacci level. Oil prices are bullish as OPEC+ extends supply cuts and US demand numbers reach an all-time high, offering optimism for a partial recovery. Resistance levels for oil are at $72.50 and $77.40, with support at $67.
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