Gold prices gather pace but oil prices wilt once more

Gold prices are looking to hit $1440 for a third time, while oil prices have turned lower in early trading.

Gold looking to challenge $1440 again

The week has seen the price of gold unable to break above $1440 but finding rising support from the low around $1380.

Another bounce may see $1440 challenged once again, with a break higher from here marking a strong bullish move. A drop below $1410 suggests a move back to $1380 in the near term.

Gold chart Source: ProRealTime

Gold chart Source: ProRealTime

WTI hovers above support

The retreat from the $60.00 peak seen last week has continued; the first part of the week saw the price of WTI drop to $56.00 before rebounding slightly.

A move below this opens the way to $52.00, but if this area holds as support, and the price then moves back above $57.50, then a push back to $59.40 may be in the offing.

WTI chart Source: ProRealTime

WTI chart Source: ProRealTime


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