Gold price and oil price both still looking strong

Gold is maintaining its move higher, while oil is back to its late September highs.

Gold finds strength to rally

The gold price continues to clamber higher, pushing above the late-October highs. Momentum may continue to push the price to $1557, the August high.

The longer-term uptrend may well have been revived, and thus a higher low from here (ie above $1470) will provide another buying opportunity.

Brent back to late-September high

The Brent has journeyed from the October lows, recovering all the lost ground from the decline in late September.

Dips towards $64.00 would create a higher low, and from a technical perspective, mark a retest of broken trendline resistance. Further gains above $66.90 would head towards $69.20 and then $70.85.


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