WTI Falling on OPEC Quotas. Range Trading Silver XAGUSD. Forex Trading Gold XAUUSD Downtrend. Rulings on Tariffs Cause Volatility.
The Markets are Waiting on a US Appeals Court to Decide on the Legality of US Tariffs

In today’s GCI Market Outlook let’s take a look at Forex Trading on AUDUSD, the S&P500, Silver, XAGUSD, Gold, XAUUSD, and WTI Crude Oil.
Last time we were looking at a symmetrical pennant on WTI and we thought it might be bullish.
We were correct but OPEC had other ideas.
OPEC met on Wednesday but agreed to meet again on Saturday and the rumours are pointing to production cuts in July.
This is why the price of crude fell nearing this level of support.
We see the stochastic oscillator is very oversold and thinking about turning up.
However, fundamental analysis always wins out over technicals.
If OPEC decides to cut production in July, we see support below-
If they do not, price may rebound to $62 or $63 giving us a new range trading opportunity.
Keep an eye on different time frames as well as the daily chart clearly shows a downtrend from the beginning of the year.
We have been enjoying some range trading on silver with help from the stochastic oscillator which has picked tops and bottoms with great accuracy.
Keep in mind that we see a downtrend so plan accordingly.
As well. Another precious metal, gold, is in basically the same bear run and price has just bounced off the upper trend line.
Usually, when trading silver and gold, we look at USD to get a clue.
Well it’s all over the place now with the on-again-off-again US tariff saga.
Speaking of tariffs, the US indices rallied after a court ruling calling the Trump tariffs unlawfully applied.
An appeals court paused the ruling and equity prices fell again.
If that court rules against the Trump administration, price action will rise again, and on and on and on.
We see an opportunity on AUDUSD after lower-than-expected Australian Retail Sales figures.
We will keep an eye on our technicals and the lower trend line in anticipation of a long opportunity.
That’s all for now.
CFDs and FX are leveraged products and your capital may be at risk.
Latest Analysis
- JPY Gap Trading on PM Resignation. NASDAQ Recovering. Forex Trading USDJPY. Today 05:32 AM
- US Non-Farm Payrolls in Focus. Silver XAGUSD Breaking Upper Trend Line. OPEC Meeting! September 05, 2025 03:52 AM
- WTI Crude Oil Approaching Resistance. Forex Trading Gold XAUUSD at All-Time High! Silver XAGUSD at 14-Year High. September 02, 2025 03:18 AM
- Buy the Dip on the S&P500 and NASDAQ? Forex Trading Short on NZDUSD and Gold XAUUSD. August 29, 2025 07:37 AM
- Forex Trading on Economic News. Trading Short AUDUSD. NVIDIA Earnings Tomorrow. August 26, 2025 03:50 AM
- Jackson Hole, BoE, BoJ in Focus. Forex Trading Short on Silver XAGUSD. August 22, 2025 08:33 AM
- Silver XAGUSD Forming Head and Shoulders Pattern. Forex Trading Reversals on NZD Pairs. Brent Crude Oil in Symmetrical Pennant. August 20, 2025 02:50 AM
- Forex Trading Long on GBPUSD. Gold XAUUSD Forming Symmetrical Pennant? Trading Short on Brent Crude? August 15, 2025 06:20 AM
- Forex Trading on Today’s US CPI Inflation Figures. Trading Long on AUDCAD & AUDJPY? August 12, 2025 08:17 AM
- Forex Trading EURGBP Post BoE Interest Rates. US Indices Fall on Tariffs: Buy the Dip? Yesterday 03:25 AM
Open an account in minutes
Trade on our award-winning platforms with ultra-fast and ultra-secure execution.
OPEN AN ACCOUNT