XAUUSD, USOIL: GOLD Sinks, WTI Mixed!

I have been bullish on Gold but the current structure is not yet clear. We could see a wave 2 completion and then go for wave 3, or that was it - the multiyear record high ended with a B correction neat $1560 and we now expect wave C to take place. I lean towards the formed scenario. What's your take?

Geo-Politics likely to positively affect gold:
- US-Sino trade talks
- Hong Kong unrest
- North Korea missile test
- US-Iran tensions

Geo-Politics and Economics likely to affect oil:
- OPEC-led cuts
- API and EIA
- John Bolton departure
- US-Iran tensions

Stavros Tousios
Head of Investment Research
Orbex

This analysis is provided as general market commentary and does not constitute investment advice.