Gold price holds steady, while oil prices slip and natural gas price makes gains
Gold prices have clung on to recent highs, and oil prices have fallen for a second day, while natural gas has made earlier gains.
Gold holds near record highs
The price continues to hit new record highs, having moved in a straight line since the latter half of March. At present there is little sign of any short-term reversal, though a close below trendline support from late March could signal the beginning of a move back towards the previous high at $2223 from 20 March.
WTI continues to fall
Oil prices eased yesterday, though they are still firmly higher compared to late March. Further short-term losses would head towards $83.18, the previous high from mid-March. Below this comes trendline support from late January, and then towards $81. A fresh move higher targets the highs of last week at $87.22, and then on to $89.
Natural Gas targets recent highs
The price has rallied off trendline support from the February low, and now targets the 2070 area, which had been support in April last year, and was resistance at the beginning of March. Above this level the price targets the 100-day simple moving average (SMA), and then on to the December 13 low at 2210.
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