Gold price and oil price both on the up

Both gold and oil are moving higher, the latter having managed to break outside of its recent tight range.

Gold’s climb continues

From a descending channel to an ascending one, gold has continued to climb, pushing through $1740, with further gains heading towards $1755 and then on to $1765.

A more bearish view would require a reversal below $1730, which might target $1710 and $1695. But for the time being, we have little sign of that reversal beginning to develop.

WTI breaks above $35.00

Friday’s surge brought a welcome dose of volatility for the WTI price, which succeeded in breaking above $35.00.

From there further gains target $41.00, the upper bound of the March gap lower. A reversal below $30.00 is needed to provide a more bearish view.

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