Gold price and oil price both resume their march higher
Gold and oil are both on the up, building on the gains seen over the past week.
Gold recovers from Friday's volatility
While Friday saw the price of gold spike to $1515, this bounce was rapidly reversed.
Nonetheless, the price then began a recovery and maintains the uptrend from the past few sessions. A break through $1520 is the key here, since rallies to this level this month have run into resistance Above this $1535 and $1550 come into play. A pullback towards $1500 or $1490 may find buyers, with a close below $1480 needed to provide a more bearish view.
WTI continues its ascent
Last week saw the WTI price rise strongly, finally making a decent attempt to rally from the firm base around $52.00.
Further gains head towards $59.00, and then on to $61.00. Last week saw prices find support around $55.50, and then if this fails as support the price heads towards $53.50. So long as $53.00 holds then we expect further upside in the near term.
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