Forecast for the dollar, oil and gold prices

On the monthly chart, the dollar index is approaching strong key support at 88.50. This means that the current fall in the dollar may soon be replaced by a good growth. We will leave this as our baseline scenario for the next year. Of course, one should not discard the second option – breaking through the level. Then the fall of the dollar may simply increase. In both options, there is room for both rise and fall:

Oil will face serious resistance next year – the line of the descending channel, which can send the price down, forming a serious correction in black gold. Although, if quotes break through the downtrend, prices have interesting prospects:

In our opinion, gold has not yet exhausted its growth potential. Therefore, reaching the target in the region of 2200.00 next year is quite justified. It is also worth paying special attention to the formation of the flag on the weekly chart of the precious metal, which can throw prices and above the considered levels:

Market forecasts, analytics and stock news

Libertex [CPS] WW



MTP Procurement Management Procurement Bidding SRM Cost Optimization Team Management Cost Management SAP ERP Management Skills SAP ERP 1C Supply Control SAP / SRM SAP / R3 Analytical Thinking Working with Suppliers Result Oriented System Thinking Process Management Strategic Planning Project Management MsOffice Negotiations with company top officials Organization of procurement procedures Oil trading

Read Previous

The number of pensioners is declining even without reform

Read Next

Technical analysis of GBP / JPY 08/10/2020