Saudi energy min. Voluntary oil cuts will be eased by 250K, 350K and 400K from MayThe Saudi Energy minister is saying that they will ease voluntary oil cuts of 1M B/D by 250K, 350K and 500K from May to July.

He added that OPEC+ remains cautious. He said that he did not discuss oil markets with US officials and decisions were not influenced by the talks with US officials.

Further Development

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Analyzing the current trading chart of Gold, I found that buyers are in control but that there is strong resistance at the price of $1.732.

My advice is to watch for selling opportunities on the rallies with the downside target at $1.715.

Stochastic oscillator is overbought, which is another sign of weakness…

Pitchfork middle line is also on the test….

Key Levels:Resistance: $1.735Support level: $1.715

The material has been provided by InstaForex Company – www.instaforex.com

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