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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​Gold price and natural gas price higher, but WTI crude price still under pressure​

​​While gold and natural gas are moving higher, oil prices have fallen to two-week lows.

Gold Source: Adobe images

​​​Gold price makes gains

​The price has pushed higher after falling back on Monday, and remains above the 50-day simple moving average (SMA).

​This leaves the bullish view intact, and leaves the price on course to test the $2400 level again. A close above this opens the way to the highs at $2450.

​A close back below the 50-day SMA (currently $2343) might result in a move back towards previous support around $2280.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

​WTI at two-week low

​Oil prices continue to fall, and WTI has now moved back towards the $80.45 level that marked support in the second half of June.

​In the short-term, further losses head towards the 200-day SMA (currently $78.51), while buyers will want to see a reversal back above $81, which might indicate that a low is in place.

​From there, further gains target the $84 highs from early July. A close above this level is needed to open the way towards gains that might take the price back to the April highs.

WTI chart Source: ProRealTime
WTI chart Source: ProRealTime

​Natural gas edges higher

Natural gas managed to rally on Monday, but was unable to continue this move higher on Tuesday.

​A close above 2400 may suggest that a low has formed for the time being, and result in a push back towards the 200-day SMA (currently 2502).

​A slump below Monday’s low at 2313 and below the 100-day SMA (2279) would renew the move to the downside.

Natural Gas chart Source: ProRealTime
Natural Gas chart Source: ProRealTime

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