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Daily Commodities ( Metals, Energies) Analysis

Commodities Market Analysis from banks

CitiBank GOLD
Citi forecasts that gold price could reach $2000 per ounce in the next 12 -24 month. A slowdown of the global economy, recession fears and spreading coronavirus could boost gold demand as a safe-haven asset.  
Morgan Stanley OIL
Morgan Stanley cut its oil forecasts for the second quarter for WTI from $52.5 to $30 and for Brent from $57.5 to $35.
Analysts from BMO rise gold forecast for 2d quarter to $1660 and to $1700 by the end of 2020. 
Barclays Capital OIL
Barclays slashed its oil forecasts for this year. New price outlook for WTI is 28 USD per barrel and for Brent is 31 USD. 
UBS lowered its Brent and WTI crude price outlook for 2d quarter to $20 per barrel from $30 and $28 respectively.
CitiBank OIL
Citigroup revised its oil forecast for the 2d quarter because of the drop of global demand and battle between Russia and Saudi. According to the base scenario, the average price for Brent - 17USD and in the worst case the price could slide to 5 USD per barrel. 
Bank of America GOLD
Bank of America revised its average gold price forecast for the 2020 year from 1625 to 1619 USD per ounce. 
Goldman Sachs OIL
Goldman Sachs predicts that global oil demand can drop to 1.1 million bpd in 2020 because of slowing economic growth as a result of the coronavirus epidemic.  The bank forecasts that WTI and Brend will trade averaging 20 USD per barrel in the second quarter. 
Barclays Capital OIL
Barclays lowered its 2020 oil forecasts: for Brent to 43 USD per barrel and WTI to 40 USD. The price war between Saudi Arabia and Russia and spreading around the globe coronavirus will affect oil demand. 
Bank of America OIL
Bank of America lowered its Brent crude price forecast to $45 a barrel in 2020 from $54 a barrel.
Goldman Sachs GOLD
Analysts from Goldman Sachs upgrade their gold forecast to $1800 in 12-month period. In the short-term, the price will rise to $1750. Demand for gold as a haven is driven by fears on spreading COID-19, sell-off on stock markets and focus on U.S. elections. 
Goldman Sachs GOLD
Analysts from Goldman Sachs forecast further Gold growth as increasing geopolitical risks. The average price in 6-12 month will be $1600. 
Standard Chartered GOLD
Standard Chartered forecasts that Gold price can reach $1605 by the end of 2020 year. 
Morgan Stanley OIL
Experts from Morgan Stanley downgraded the outlook for the end of the 2019 year: for Brent from $65 to $60 and for WTI from $58 to $55.
CitiBank GOLD
Citibank forecasts that gold will drop to $1482 in short term period. In long-term the price will reach $1700.

Commodities Technical Analysis

Currency М30 H1 H4 D W M
Moving Averages sell sell sell sell sell sell
Indicators sell sell sell sell sell sell
Moving Averages buy buy buy buy buy buy
Indicators buy buy buy buy buy buy
Moving Averages buy buy buy neutral neutral buy
Indicators buy buy buy buy sell buy
Moving Averages neutral buy buy sell sell sell
Indicators buy buy buy neutral sell sell
Moving Averages buy buy buy neutral sell sell
Indicators neutral sell buy buy sell sell
Buy 6 5 6 8 9 7
Sell 8 8 9 9 4 7
Summary buy buy buy buy sell neutral