Gold and Brent crude oil prices gain ground amid dollar weakness
Gold continues to gain ground, yet with the dollar weakening, we are finally seeing crude regain some ground.
Gold continues to surge higher as it heads towards resistance zone
Gold has continued its incredible run higher today, with the price recovering three months’ worth of losses in the space of a week.
This uptrend looks likely to continue, yet it is worthwhile noting the existence of resistance at $1347. Until that is reached, further upside looks likely from here. Only a break below $1320 would negate this current bullish outlook.
Brent crude stabilises after recent declines
Brent has finally started to stabilise following a period of steep declines for crude.
The four-hour chart highlights that we will need to see a break through the $62.73 level to bring about a more bullish outlook. Until then, there is still a good chance of further downside to conform with the recent downtrend.
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