Gold price under pressure while oil price rallies

Gold is once again moving lower, while oil prices have rallied hard from yesterday’s lows.

Gold under pressure as risk appetite holds steady

Gold continues to falter, having rallied to, but failed to break above, the $1710 level.

This lower high brings $1690 into view. Below this, $1660 is the next target. Alternatively, a push through $1710 brings $1740 into view, the big resistance throughout April.

WTI falters after bounce

There has been a strong rally off the lows of Tuesday’s session, but WTI gains are currently stalling at $15.50. Above this, the $18.80 peak from last week comes into view.

However, the downtrend is still in effect, and a possible lower high at $15.50 would provide a possible selling opportunity, targeting $12.00 in the first instance, then $10.94 and $9.52.

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