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Daily Gold & Oil Trading Signals & Market Forecast: March 28

Commodities Market Update: Key Highlights

Gold Market

  • Steady Prices: Gold prices stabilized in Asian trade, hovering near record highs.

  • Impact of U.S. Data: Traders are eyeing U.S. inflation and interest rate cues.

  • Inflation Expectations: Expectations of Federal Reserve rate cuts by June support bullion prices.

  • Dollar Strength: A strong dollar is preventing gold from reaching new record highs.

  • Record Comparison: Spot prices just below last week's record of $2,222.90/oz.

  • Upcoming Data: PCE price index data due Friday – a key inflation measure.

  • Fed Officials' Speeches: Markets await speeches from Jerome Powell and Mary Daly for rate cut indications.

  • Waller's Statement: Fed's Waller highlights ongoing inflation and resilient U.S. economy.

Copper Market

  • Rebounding Prices: Copper prices rebound amid proposed output cuts by Chinese smelters.

  • Near 11-Month Highs: Prices moving back towards recent peaks.

Oil Market

  • Gaining Momentum: Oil prices edge up after recent declines.

  • Monthly Performance: On track for third consecutive monthly gain, up about 4.5%.

  • Inventory Data: U.S. crude and gasoline inventory data influence the market.

  • Supportive Factors: Increased refinery utilisation rates; expectations of limited U.S. inventory rise.

  • Fed Rate Cuts Impact: Potential Fed rate cuts in June could bolster oil demand.

  • OPEC+ Meeting Watch: Markets to observe next week's OPEC+ meeting for policy cues.

Market Outlook

  • Gold and Inflation Data: Metal markets likely to react to any cooling in inflation.

  • Oil Market Dynamics: Investor attention on geopolitical risks and OPEC+ decisions.

  • Global Economic Indicators: Fed policies and economic data remain key drivers.


Gold & Oil Trading Signals

  XAU/USD (Gold)  WTI (CL-Oil)  BRENT CRUDE (UKOUSD)  


XAU/USD Gold, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 XAU/USD Gold

Gold (XAU/USD) Intraday Signal

  • Trade Direction: Buy

  • Entry Point: 2193.64

  • Take Profit: TP1: 2200.00, TP2: 2205.00

  • Stop Loss: 2185.00 (below the daily pivot)

  • Confidence Level: Moderate

  • Indicator Analysis:

  • Bollinger Bands: The proximity to the upper band suggests bullish momentum, though it could also hint at overbought conditions.

  • Ichimoku Cloud: The price remains above the cloud, maintaining a bullish outlook.

  • Average True Range (ATR): A high ATR signals volatility, which may result in larger price swings.

  • MACD: The MACD line above the signal line indicates bullish momentum, albeit with signs of potential slowing.

  • RSI: The RSI is not yet overbought, suggesting there may be room for upside.

  • Fundamental Analysis Insight: Given gold's current position above the daily pivot and just shy of last week's record highs, along with expectations of Federal Reserve rate cuts supporting bullion prices, a cautious buy is warranted. Traders should watch for the release of the PCE price index data and Fed officials' speeches for directional cues.


An advertisement graphic for Vantage, a trading platform, offering a 50% deposit bonus to supersize trades. The visual features an isometric design with an oversized, three-dimensional arrow pointing upwards, indicating growth or increase. There are stacks of coins on the arrow, and a miniature office setup with a computer displaying charts, suggesting trading activity. A "claim now" button is included, highlighting the promotional offer. Trading risks and terms and conditions are noted at the bottom, alongside the VFSC registration number.



WTI Crude Oil, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 WTI Crude Oil (CL-Oil))

WTI Crude Oil (WTI/USD) Intraday Signal

  • Trade Direction: Buy

  • Entry Point: 81.46

  • Take Profit: TP1: 81.80, TP2: 82.10

  • Stop Loss: 81.00 (below the daily pivot)

  • Confidence Level: Moderate

  • Indicator Analysis:

  • Bollinger Bands: The price is currently trading in the upper half of the bands, suggesting bullish momentum.

  • Ichimoku Cloud: The price is above the cloud, indicating an uptrend.

  • Average True Range (ATR): ATR is relatively high, indicating potential for significant price movement.

  • MACD: The MACD line is above the signal line, which supports the buy signal.

  • RSI: The RSI is approaching the overbought territory, which suggests caution, but there is still potential for upside before hitting overbought levels.

  • Fundamental Analysis Insight: With oil prices on track for a monthly gain and market sentiment looking for cues from OPEC+ policies and geopolitical risks, the current price above the daily pivot point aligns with a bullish outlook. However, monitor the U.S. crude and gasoline inventory data, as it can influence the market significantly.

"Promotional banner for Vantage featuring floating currency symbols like the dollar, euro, and yen with upward orange arrows, indicating growth in Forex trading. Includes a 'Trade Now' button and a disclaimer about the risks of trading derivatives."


BRENT CRUDE (OKOUSD)  A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢BRENT CRUDE (UKOUSD)  

Brent Crude Oil (UKO/USD) Intraday Signal

  • Trade Direction: Buy

  • Entry Point: 86.38

  • Take Profit: TP1: 86.70, TP2: 87.00

  • Stop Loss: 85.80 (below the daily pivot)

  • Confidence Level: Moderate

  • Indicator Analysis:

  • Bollinger Bands: Price is closer to the upper band, which may suggest bullish momentum.

  • Ichimoku Cloud: Price is above the cloud, indicating an uptrend.

  • Average True Range (ATR): ATR is moderate, suggesting some volatility is present.

  • MACD: The MACD line is above the signal line, which supports the bullish sentiment.

  • RSI: The RSI is above 50 but not yet in overbought territory, suggesting there may be some room for upward movement.

  • Fundamental Analysis Insight: With prices currently above the daily pivot and the market expecting potential OPEC+ policy moves next week, the bullish sentiment in oil is supported. Monitor any changes closely, especially those related to geopolitical tensions and decisions by OPEC+, as these could affect the market significantly.

 

Disclaimer: These Gold & Oil Trading Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.



As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.

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