Gold and oil head lower but sugar prices at a high
A stronger dollar has weighed on gold and oil prices are struggling, but sugar prices continue to soar.
Gold edges lower
A stronger dollar has resulted in further losses for the commodity, and it is now heading back towards recent support around $1970.
Below this the 50-day simple moving average (SMA) might come into view, though the broader trend is still up given the higher highs and lows seen in Q1.
A revival back above $2000 would suggest the buyers might be back in charge, targeting $2050 and higher.
WTI steady after sharp Wednesday fall
A bearish view is back in place here following the drop below the 50-day SMA on Wednesday.
While the price stabilised on Thursday, and is little-changed in early trading today, the overall view continues to point towards further downside. The downtrend has reasserted itself, particularly given the recent drop and the earlier failure to break above the 200-day SMA.
More declines target the lows of March, while the buyers will need to see a move back above $78 to suggest another attempt to break the 200-day SMA.
Sugar surge continues
The price has continued to soar and now the highs from 2012 are the next target.
Given the size of the move, some consolidation here would not be surprising, though a more bearish move would need a drop back below 2200.
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