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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Brent crude oil price and gold price on the rise

Gold and Brent crude on the rise, yet questions remain for gold given risk-on sentiment.

Gold Source: Bloomberg

Gold rebounding after sharp declines overnight

Gold has been on the rise this morning, following on from a sharp decline yesterday.

The creation of higher highs and higher lows remain in play given the failure to break below $1458 support. That points towards a potential rise over the short term. However, with a wider bearish picture remaining in play, a decline below $1462 would likely put the bear back in the driving seat.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

​Brent crude continues to rise, breaking through resistance

Brent has continued to gain ground, with the rise through $64.41 signaling a potential bullish push from here.

The final hurdle to overcome is $64.64, where a rise through that point would negate the bearish signal that came with a decline below $63.28.

Oil chart Source: ProRealTime
Oil chart Source: ProRealTime

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