Gold price stuck below resistance as oil price begins to fall once more

Gold is being held below key resistance, while oil is now turning lower after several days of gains.

Gold stuck below $1740

The price of gold has fallen back from $1740, but the price has continued to hold $1710 for the time being.

A rally back above $1740 revives the general move higher, while an alternate view will see the price drop below $1700 and then bring $1660 into play.

WTI begins to turn lower

After an impressive bounce from last week’s lows, the price of WTI has finally started to turn lower, dropping below $16.00 in early trading, after faltering at $19.00 during the second half of last week.

Having fallen below rising trendline support, the price needs to move back above $18.50 to provide a more positive view. $14.15 and then $11.20 are key downside targets in any move lower.


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