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 prices stuck below resistance but oil prices drop sharply

Gold’s rally stalls while oil drops sharply thanks to tariff war fears.

Gold stuck below $1440

Gold continues to find itself unable to hold above $1440, while dips towards rising support find buyers.

One positive view would be that the daily moving average convergence divergence (MACD) is slowly beginning to flatten out, which may lead to a bullish crossover signal in due course. However, a firm close above $1445 would be needed to confirm this. Dips towards $1415 may continue to find support.

WTI slumps on tariff war fears

The move higher for WTI suffered a check on Wednesday, and then was dealt a severe blow yesterday when US President Donald Trump revived the threat of trade wars.

As a result, the price dropped back below trendline resistance, and below the $55.50 area that marked support in the second half of July. While there has been a slight recovery overnight, further declines may occur, targeting $52.90 and $52.00 as possible support. A move above $56.00 might begin to suggest a stabilisation and the development some of bullish momentum.


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