Gold and silver losses pause, while Brent crude oil tiptoes higher
Gold and silver continue to form an apparent higher low, while oil prices are aiming to resume their move higher.
Gold selling halted for now
For the moment the price has managed to halt any further declines. Early trading has seen the price attempting to move higher, having found buyers at the lows just above $2300.
A close above $2340 could trigger a new move to the upside that would target $2400.
Sellers will want to see a close back below $2300 and then below $2291, the low from Tuesday, though the broader uptrend is still firmly intact.
Brent edges higher
Oil prices wobbled yesterday after the solid gains seen on Tuesday, but have put their best foot forward in early trading this morning.
A higher close today would help to reinforce the view that a higher low was created last week when the price bounced off the 50-day simple moving average.
Further gains would head towards $90, and then on to the early April high around $91.50.
Silver stabilises above $27
Silver prices have also stemmed the losses over the past week, holding above $27.
A higher close today will help bolster the bullish outlook and suggest that a higher low has formed around $27. Additional gains target the mid-April highs at $29.
A close below $26.50 would mark a bearish development and, as with gold, suggest a deeper retracement in a broader uptrend.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
