Gold price edges higher while oil price bounces from support
Gold price are aiming to test $1550 again while oil has bounced from yesterday’s lows.
Gold looks to test $1550
Gold’s resistance continues to hold at $1550, but dips towards $1520 this week have found buyers.
If the price can create a higher low above $1520, a more bullish picture may emerge. Further declines test $1490.

WTI bounces from $53
WTI’s sharp rebound yesterday has yet to restore a more bullish view, but a second bounce from $53.00 suggests that buying pressure is building.
To open the way to $56.70 and the highs of August, a push through $55.00 is needed. Further gains above here target $58.84. If the price turns lower from below $55,00, then a lower high is in place and a push lower may result.

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