Gold price and oil price both make early gains

Gold has broken out of its consolidation range, while oil prices continue their recovery from their lows.

Gold’s ascent continues

Having moved sideways for a month, the gold price has finally broken higher, pushing through $1740.

The next targets become $1800 and then $1926, the 2011 peak. Short-term pullbacks towards $1740 may provide support, but overall it looks like the bullish move is back in play.

WTI returns to $31.00

The WTI price has continued to rally, pushing back to $31.00 for the first time since early April.

This remarkable round trip shows no sign of stopping, although a break below $28.00 would clear rising trendline support. $35.00, the gap down from early March, is now the next major upside target.

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