Gold price holds firm as oil price rebounds from lows

Gold remains near support while oil has rebounded from its Monday low, but is still under pressure.

Gold fights to hold $1650

The gold price has stabilised above $1650 for the time being, with further gains targeting $1680 and then $1700.

A drop below $1650 marks a loss of key support, and brings $1585 and then $1565 into play.

WTI rallies off the lows

While the WTI price bounced from yesterday’s lows, it remains stuck at $34.00.

A fresh turn lower targets $30.00 and then $28.00, while a longer-term bullish view above $34.00 likely requires a more congenial macro environment. Any peak below $40.00 in coming days would likely bring out the sellers once again.

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