Gold price and oil price break higher

Dollar weakness has allowed both oil and gold to push higher, continuing their recent strong runs.

Gold breaks out of bearish pattern

Gold buyers have reasserted control of the price, which has broken out of the descending channel that has been in place for a week.

Further gains towards fresh-decade highs now look likely, while sellers will want a reversal that takes the price back towards $1790, although a close below this is needed to provide a more bearish view.

WTI looks to break higher

Oil prices continued their rebound, heading back towards $41.00, which has provided resistance since early July.

Above here $41.60, the high from late June, is back in play. A more bearish view requires the price to fall below $39.00, breaking trendline support from the 24 June low.

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