Gold price and oil price both move higher
Gold and oil are both looking to build on a strong end to 2019, with early gains in trading so far.
Gold builds on strong gains
Last year was a good year overall for gold, despite the weakness from August to November.
But with the price having stabilised above $1450, a higher low has been created, and now the price has cleared the late October high around $1515 a move towards $1557 can be contemplated. A move back below $1500 might raise the prospect of a drop back towards $1460.
WTI steadies above $61
Having broken through trendline resistance from the April high last week, the WTI price has stabilised above $61 and is now looking to resume its move higher, heading back to $62 and higher.
Dips towards $58 may provide fresh buying opportunities.
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