Dollar turned weaker overnight as markets on talks that Fed could eventually go into negative interest rates. Safe haven flows also continued to recede in generally, with NASDAQ extending recent rebound, even though DOW’s rally was still capped. Australian Dollar continues to surge higher, shrugging
Gold's 4-hour chart shows a bear flag pattern.
A breakdown would imply a continuation of the pullback from $1,740.
Gold's bounce from the April 28 low of $1,690 has taken the shape of a bearish continuation pattern called bear flag, according to the 4-hour chart.
At press time, the lower end of t
WTI extends the recovery moves $10.00 after upbeat API data.
Concerns surrounding demand-supply imbalance creating huge supplies keep weighing the commodity.
OPEC’s April oil supply surges to the highest since December 2018.
EIA data, US economics and virus updates are likely the key catalysts.