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Gold price and oil price both continue their gains

Gold is pushing back to the mid-April highs, while oil continues its recovery from the lows of the week.

Gold eyes break above $1740

The rebound continues for gold, with the price heading towards $1740, the highs from earlier in the month.

A break above this provides a fresh bullish view and, with stochastics at a low level, the push higher may be a strong one. A more bearish view would need the price to drop back below $1700 and then challenge $1660.

WTI heads towards trendline resistance

For the WTI price, the steady recovery from the lows of the week does look to be in place.

The price has steadily pushed higher, but as it nears $20.00 it will encounter trendline resistance. The trend is still down, so further dramatic gains are needed to reverse this view. A drop back below $16.00 would begin to suggest a new leg lower is developing.

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