Gold price and oil price move higher
Gold and oil are both on the up today, showing signs of further bullishness.
Gold breaks through resistance
The price of gold has finally broken higher, moving above the $1497 area that has acted as resistance since mid-October. Further gains head towards $1530 and $1550.
Having built a base around $1480, higher lows will provide buying opportunities, with a move below this negating the more bullish outlook.
WTI climbs higher
The WTI rally continues to gather pace, clearing the 50-day and 100-day simple moving averages (SMAs) over the past three days.
Further gains head towards $58.00 and $59.40. A move back below $54.50 is needed to begin to suggest a reversal is at hand.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Speculate on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
Live prices on most popular markets
- Forex
- Shares
- Indices
