Buy #Exxon and sell #Boeing | 29 March 2019

XAUUSD:

U.S. money market fund assets recorded their steepest drop in nine months. This is a positive signal for gold. Investors will actively buy the precious metal. FOMC takes a break on the issue of tightening monetary policy. The US dollar will fall in the medium term. The decline in the value of the dollar causes an increase in gold. FOMC actively promised to raise interest rates in 2019. The Central Bank renounces its promises! Investors are disappointed with the FED decision not to raise interest rates. They will gradually sell dollars and go to other assets. Gold is a good asset for investment!

Trading recommendation: Buy 1313 and take profit 1326.

#Exxon:

In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project. Workers are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines. The Permian shale basin is the best field in the world. Exxon and other majors are moving aggressively to dominate the Permian. The majors have 75 drilling rigs here this month, up from 31 in 2017. Exxon operates 48 of those rigs and plans to add seven more this year. This process will contribute to the growth of the company's income, which will have a positive impact on the value of shares!

Trading recommendation: Buy 80 and take profit 82.50.

#Boeing:

Boeing is losing orders, which will cause a decline in revenues in 2019. The 737 MAX was Boeing's fastest selling jet before an Ethiopian Airlines crash near Addis Ababa on March 10, which followed a Lion Air crash in Indonesia on Oct. 29. Boeing shares have fallen 14 percent since the Ethiopian crash. Indonesian airline Garuda said it plans to scrap its order because some passengers are afraid to board the plane. The U.S. Justice Department opened a separate investigation in relation to Boeing this week. Terrible news will have a negative impact on the capitalization of the company's business.

Trading recommendation: Sell 366 and take profit 360.