Crude oil and gold prices are looking ahead to the Federal Reserve policy announcement for direction cues. The balance of risks seems to bode ill for commodities.
Crude oil prices may break chart support guiding the uptrend since the beginning of the year as fears about slowing global economic growth sour market sentiment.
Crude oil prices may turn lower if early technical clues pointing to ebbing upside momentum find a complimentary catalyst in incoming earnings reports.
Crude oil prices may turn lower if technical signs of ebbing upside momentum find follow-through. API inventory flow data is on tap ahead.
Gold prices may fall for a fifth day as service-sector ISM survey data boosts the US Dollar, undermining the appeal of anti-fiat alternatives.