Gold’s Near-Term Downside Target
By Sunshine Profits (Przemyslaw Radomski, CFA)
The price of gold moved considerably lower in the past several weeks, despite the pause that we saw in the final part of the previous week. The yellow metal moved below $1,300 and confirmed this move by several daily closes below it. Moreover, gold confirmed the breakdown below the rising medium-term support line that’s based on the daily closing prices of December 2016 and December 2017 lows. Consequently, gold’s likely to move lower and the question is how low can gold decline in the near term.
Gold Is Likely To Move To $1,250
Gold is likely to move considerably lower this year, but since no asset can move up or down in a straight line without periodic corrections, we’ll most likely see the latter in gold along the way and the nearest corrective upswing is likely to start from about $1,250.
Walmart Is Running In Quicksand
May.22.18 | About: Walmart Inc. (WMT)
• WMT delivered 4% revenue growth last quarter.
• Operating income fell 2% due to higher operating costs related to investments in E-commerce and technology.
• WMT refuses to lose the online war to AMZN, which is commendable.
• WMT is still running in quicksand. Sell the stock.
Oil prices have been given a boost, but they could struggle to head higher
By Cheang Ming | @cheangming
• Oil will be in a $55 to $75 per barrel range on a 12-month basis, said Manpreet Gill, head of FICC investment strategy at Standard Chartered Private Bank.
• There’s been plenty of price-supportive news in the short term, but oil could struggle to head higher still, Gill said.
• Concerns over Venezuela and impending U.S. sanctions on Iran have supported oil prices in recent weeks.