Gold price and oil price move higher

Gold and oil are both on the up today, showing signs of further bullishness.

Gold breaks through resistance

The price of gold has finally broken higher, moving above the $1497 area that has acted as resistance since mid-October. Further gains head towards $1530 and $1550.

Having built a base around $1480, higher lows will provide buying opportunities, with a move below this negating the more bullish outlook.

WTI climbs higher

The WTI rally continues to gather pace, clearing the 50-day and 100-day simple moving averages (SMAs) over the past three days.

Further gains head towards $58.00 and $59.40. A move back below $54.50 is needed to begin to suggest a reversal is at hand.

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