Gold price hits six-year high as oil price falls back
Gold continues to climb, as it pushes to a six-year high, while oil is edging back from the recent highs thanks to waning US-Iran tensions.
Gold climbing at rapid rate
The parabolic move goes on for gold, with short-term dips proving to be buying opportunities.
A possible bearish wedge has formed, with a break below $1420 likely to see a significant retracement. $1412 and $1384 are possible areas of support in the short term.
Brent edges lower
The Brent price has edged back from last week’s high but has found support around $63.40.
A further recovery targets $65.00, and then on to $66.80. Below $63.00 the price will head towards $61.00 and then $59.20.
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