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.

Gold price rallies while oil price falters

Gold has enjoyed a series of gains, but WTI is stuck below $25.

Gold hits multi-session high

The price of gold has surged over the past week, rallying from $1460 to an eight-day high at $1640. The pullback from here currently in progress may provide a buying opportunity, if it establishes a higher low.

A bullish crossover in stochastics and/or moving average convergence divergence (MACD) may provide this. Further gains target $1700, while a move back below $1540 would start to suggest a deeper move, potentially towards $1480 and $1460.

WTI stuck below $25

WTI has not rallied as strongly as equities, remaining unable to move on above $25.00.

Rising trendline support from the 18 March low comes into play around $23.30, while a break above $25.00 targets $28.40. If the price drops below trendline support then $21.95 and then $20.60 become downside targets in the near term.


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