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Gold price pushes higher, while oil price recovers from weakness

Both gold and oil are rising this morning, with gold still holding to its rising trend.

Gold holds rising trendline

The gold price continues to adhere to rising trendline support, which has been in place from the low on 20 March.

A retreat from Monday’s highs looks poised to create a higher low, as stochastics move higher and the moving average convergence/divergence (MACD) prepares to give a bullish crossover. Above $1670, the price heads towards $1700.

WTI sees signs of recovery

Yesterday saw a dip below $27.00, but the WTI price has since rebounded, and further gains head towards $30.00.

Above this, $31.15 and then $33.85 come into view. A more bearish view would require a reversal below $27.00, the low from Tuesday’s session.


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