Gold and oil prices held back by resistance

Gold and oil have both found their paths higher blocked by resistance, resulting in sideways trading for most of the past week.

Gold stuck below $1350

The price of gold has been held firmly below $1350, having twice tried to push above this level this month.

A dip to $1320 last week found buyers, so a pullback to this level might see buying pressure revive once more. A close below $1320 opens the way to $1310 and then $1290.

WTI held below trendline resistance

Last week saw the price of WTI hold above $51.00, although in the near term it has faced trendline resistance from the 10 June high at $54.70.

A push through $53.00 would break this resistance, while further declines will test support once more at $51.00.


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