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Gold price bottoming out while oil price falls again

Gold appears to be bottoming out after recent losses, but oil is still struggling to rally.

Gold appears to be bottoming

A mixed day for gold yesterday saw a sharp rally knocked back. However, the price recovered and has pushed higher in early trading.

Further gains head towards $1525 and, above this, $1550 comes into play. A move back below $1490 reverses the nascent bullish view.

WTI still falling

The WTI price remains under pressure, with the overnight rally now turning lower from $55.30. The next targets in a sustained downturn are $53.00 and $52.04.

That being said, if the price can hold above $54.00 then a more bullish view may develop.


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