Gold price and oil price continue to rally

A weaker dollar has helped to allow both gold and oil to move higher in early trading.

Gold shows no sign of slowing down

A pullback yesterday from Wednesday’s highs has resulted in yet another higher low, with the gold price rallying from the 200-hour simple moving average (SMA) at $1765.

A continuation of the uptrend seems likely, which would bring $1790 into view. Bears need to see a move back below $1760, and then below $1750, to suggest that a bigger move lower is in play.

Brent keeps moving higher

Brent crude's breakout at the beginning of the week continues, although in a fairly sedate fashion.

Further gains head towards $44.00, while the bearish view would need to see a drop below $41.00, followed up by a test of the $40.00 support.

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