#WTI:
The coalition of producers led by Saudi Arabia and Russia is restoring some of the vast quantities of crude halted during the depths of the COVID-19crisis. So far the supply boost hasn’t derailed oil’s fragile recovery, which has seen prices climb to a five-month high. But the outlook for fuel demand has deteriorated as the pandemic crushes international travel, and new outbreaks of the disease are weighing on the economic recovery. On Monday, key OPEC+ members will meet to consider how to safe-guard their recent success.
Trading recommendation: range 41.50 -42.90
#SP500:
The US Treasury is increasing spending, which positively affects the economic growth of the United States and the stock market as far as the stock market depends on the state of the economy. The Ministry of Finance over the past week has spent just over $75 billion from its special account (Treasury account), which is in the Fed. For two weeks in a row, the Ministry of Finance is spending money to support economic growth. This trend will only intensify in the coming weeks, as the next US presidential elections will be held on November 4.
Trading recommendation: Buy 3344 and take profit 3391.
XAUUSD:
We are expecting the downtrend to develop in the new five-day period. Gold is one of the protective assets that demonstrate decay in the rally period at the stock market. Now the same situation maybe gets for us. In the coming month, the United States wants to register a vaccine against COVID-19, which will negatively affect the cost of the yellow metal. Vaccination of the population will level the risks, and we will expect a V-shaped recovery in economic growth, which in turn will lead to a rally in stock markets.
Trading recommendation: Sell 1950 and take profit 1925.
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