Gold, oil and natural gas prices move higher
A softer dollar has helped support gold and oil, while the closure of a gas field has bolstered natural gas.
Gold bolstered by stronger dollar
The defence of the $1930 area goes on, and the buyers seem determined to hold the price around this level.
A possible higher low continues to form, though there has not been much of a move to the upside. Nonetheless, with the daily MACD on the cusp of a bullish crossover, a move back above $1970 might be the catalyst for a fresh move higher. This might then bring the $2060 highs from early May back into view.
It would need a daily close below $1930 to deliver a fresh short-term bearish view.
WTI on the up again
Oil prices have recovered over the past three sessions, forming a support zone around $67.70. However, medium-term upside since May has been contained around the $73.80 mark.
For a more sustainable bullish outlook to appear, a daily close above $74 would be needed. Even then it might take time for a longer-term bullish view to emerge, though a move above the 200-day simple moving average (SMA) would help.
A reversal back below $68 signals a test of the $67.80 support zone again.
Natural Gas finally manages a rally
Gas prices surged on Thursday to a four-week high on reports that the Netherlands would close a large gas field.
This helped the price to build on the gains made since the beginning of June, and put a move back to $27.86 into view once more. Beyond this, the early March high at $30.48 comes into view.
Sellers will be watching for a reversal back below the 100-day SMA that might point towards fresh downside and target the $21.05 support zone.
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