Gold price looking stronger while oil price stalls
Gold has managed to hold $1460, but oil prices are struggling to maintain recent bullish momentum.
Gold holds $1460
The gold price continues to hold the $1460 support zone, although the bounce yesterday ran out of steam around $1465.
A break above $1465 might provide a more bullish view, targeting $1472. A break below $1460 helps to revive the bearish view, and would open the way to $1450. A longer-term rally requires a move above $1485, the highs from early December.
WTI stuck below $59.40
Yesterday saw little upward momentum in the WTI price, but the overall move higher is still intact.
A push above $59.40 is needed to revive the bullish view, while further small declines might bring the lower bound of the rising channel into play around $58.40. Further gains target $61.50.
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