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Gold and Oil prices rise as Russia invades Ukraine

News of a Russian assault on Ukraine prompted both gold and oil prices to rally.

​Gold

News of the Russian attack in Ukraine has driven prices sharply higher, pushing gold to its highest level since January 2021.

The November 2020 peak at $1958 now comes into view. In the event of a pullback $1907 and then $1875 may provide support.

WTI

Oil prices have risen steadily as the crisis in Ukraine has deepened, and have moved rapidly higher overnight, to their highest level in over seven years.

Further gains should result, as the price pulls away from trendline support, supported by high stochastic and moving average convergence/divergence (MACD) readings. The 2014 highs above $100 and around $107.68 now come into view.


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