 "Natural gas")
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.
Outlook:
US-China Truce on tariffs have weakened dollar index but US dollar again gained after Brexit turmoil. We expect DXY to trade in the positive region. Meanwhile, our currency has bottomed out near 69.70 and now we are expecting to depreciate till 72 as uncertainty will linger as state election results are near. RBI policy failed to lift the currency and now it is buying on dips instead of sell on rising.
Gold is near to its resistance zone of $1248 in COMEX, thanks to 10 yr US yield
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