Gold price soars, while crude oil price crash continues
Gold and Brent continue to move in opposite directions, with gold gains and a crude slump expected to persist.
Gold continues to gain ground after major breakout
Gold has continued its huge recovery, with the price moving higher throughout the past five days. The break through the $1303 swing high negated the creation of lower highs and points towards further upside to come.
That continues to play out, and with a shallow retracement taking place overnight, there is a good chance we will see further upside. As such, a bullish outlook remains in play unless we see a break below the $1321 low from this morning.
Brent crude moving lower after brief rebound
Brent has been seeing sharp declines over the course of the past fortnight, with the price hitting a four-month low.
The week started with a rebound yesterday, yet that appears to already be over. Watch for an hourly close below $60.51 to signal another leg lower for Brent, where a rally through $62.73 would be required to bring about a more bullish outlook.
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