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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​​Gold price and WTI crude price higher, while natural gas price struggles​

While gold has surged to a new high again, and oil is recovering, natural gas remains under pressure.

Gold trading Source: Adobe images

​​​Gold at new highs

Spot gold has once again defied the doubters, rallying to a new high for a second consecutive day.

​Gold’s performance this year has been a lesson in never arguing with trends, which can go on and on, for much longer than anyone thinks is possible.

​There has been an absence of any real pullbacks here; the late September/early October drop was the most serious in weeks. But this ended with a rally from near $2600.00. Further gains now seem likely.

Spot gold chart Source: ProRealTime
Spot gold chart Source: ProRealTime

​WTI forms a possible higher low

WTI crude oil prices have seen strong buying at the lows over the previous three sessions as it neared trendline support from the September low.

​The price is recovering this morning and could be forming a higher low, with a close above $71.00 reinforcing this bullish view. This would then provide the springboard for more gains.

​A reversal back below trendline support would be needed to suggest that the downward move from the October highs will continue.

WTI crude oil chart Source: ProRealTime
WTI crude oil chart Source: ProRealTime

​Natural gas edges lower

​The natural gas price continues to drift lower, finishing at the lows yesterday. For the moment the price has not yet been able to support a higher low.

​A close above 2800 might build a foundation for further gains, with the overall bullish view still holding up following the solid gains of the past seven weeks.

​The 2530 low from May may provide support in the event of further losses.

Natural gas chart Source: ProRealTime
Natural gas chart Source: ProRealTime

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