Gold and Brent prices rise, with gold expected to outperform
Gold and Brent crude push higher, with the precious metal expected to outperform amid ongoing market fears.
Gold on the rise after brief pullback
Gold has started to move higher once again, following a brief period of weakness at the start of the week.
With a clear bullish trend in play over recent months, it looks like we are set for further upside in accordance with that trend. A break back below $1525 would bring a bearish picture for the short term. However, until that happens, further gains seem likely for gold.
Brent rallies into notable resistance level
Brent managed to rebound into the $59.67 resistance level yesterday, with the price seemingly in consolidation mode below that key level. With the wider picture pointing towards a potential breakdown for the commodity, we could turn lower from here.
However, it is worthwhile noting that we would want to see a break below $57.47 to bring a more confident bearish picture into play. With lower highs and higher lows, we are essentially in consolidation mode. Thus, watch for how we respond to this $59.67 level as a gauge of where we could go from here.
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