Gold price moves sideways while oil price reaches previous low
Gold is holding above support while oil prices have moved back to their mid-March low.
Gold drifts sideways for now
The price of gold has shown a reluctance to move below $1613, moving sideways, while so far moves above $1640 have hit resistance.
A drop below $1613 would bring $1600 into view. A push through $1640 heads towards $1670 and $1700.
WTI returns to mid-March low
The bounce from mid-March has finally fizzled out for WTI, moving back to the support zone of 18 March around $21.00-$22.00.
The rally on Thursday and Friday ran out of steam at $25.00 and began to drift lower. If the price can move above $23.40, then a slightly more bullish view may emerge, but further declines below $21.00 target $19.00.
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