Gold price edges higher while oil price bounces from support
Gold price are aiming to test $1550 again while oil has bounced from yesterday’s lows.
Gold looks to test $1550
Gold’s resistance continues to hold at $1550, but dips towards $1520 this week have found buyers.
If the price can create a higher low above $1520, a more bullish picture may emerge. Further declines test $1490.
WTI bounces from $53
WTI’s sharp rebound yesterday has yet to restore a more bullish view, but a second bounce from $53.00 suggests that buying pressure is building.
To open the way to $56.70 and the highs of August, a push through $55.00 is needed. Further gains above here target $58.84. If the price turns lower from below $55,00, then a lower high is in place and a push lower may result.
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