Gold price still weak while oil prices turn lower

Gold price continues to drift lower and oil prices have returned to resistance and are again encountering difficulties.

Gold still moving lower

Gold pullback continues here, although only a modest one.

Further declines are still likely to test key support around $1490. A recovery above $1532 would signal another attempt to test $1550 is in the offing.

WTI drops back from resistance

WTI has yet again pushed towards $57.00 and begun to flail at this level.

A drop back below $55.00 signifies that a high is in for now, and might suggest a push back to $53.00. Meanwhile, a move above $57.00 provides a more bullish catalyst and would target $58.00 and then $59.40.

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