Gold price and oil price both recover

Gold has once again held at $1485, while oil prices are moving higher after finding support on Tuesday.

Gold finds support at $1485

The gold price has once again found support at $1485, potentially providing a base off which it may be able to rally.

A push above $1495 would be a good first step, and would then put it on a path to hit $1515. A move back below $1480 breaks this zone of support, opening the way to $1460.

WTI still finding bullish momentum

The WTI price fell to the 200-hour simple moving average (SMA) yesterday, and then managed to bounce.

It has begun to recover from some overnight weakness, potentially leaving the current rebound intact. Further gains above $56.00 target $57.00, the high from Monday. The bullish view would be negated with a close below $54.50.


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