Weekly forecast for oil, gold and EUR/USD

USCrude – oil 

The oil price has reached Target Zone 4 [19.84 – 19.43] in the medium-term downtrend this week. After it reached the strong support in the margin zone and tested the psychologically important level at $20 per barrel, oil price has reversed up and broke out the trend key resistance [25.15 – 24.69].

The price is now trading above the resistance with the uptrend target at Target Zone 2 [29.80 – 29.34]. I suggest holding up the purchases you have already entered and enter new buy trades on the correction into the broken-out zone and the new trend…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>