Gold price and oil price both looking stronger

Gold and oil have both been enlivened by the Fed’s rate cut, with the former finding plenty of forward momentum.

Gold eyes break higher

Gold held on to most of its post-Federal Reserve (Fed) rate cut gains, and is now looking to push through $1650-$1660 to target $1690.

Having recovered so much lost ground, the price looks a bit overextended but pullbacks towards $1600 would create a higher low and thus provide further entry points for longs.

WTI back on a rising path

WTI prices continue to gain as well, slowly rebounding from the drop yesterday. Continued gains above $46.00 maintain the bullish view, targeting $49.00 and then on to $50.50.

A break of the rising trendline would then bring $45.00 and $44.00 back into view as downside targets.

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