Gold price stuck below resistance as oil price looks to turn lower

Gold is trying to break $1640, while oil prices look at risk of another turn lower.

Gold held below $1640 for now

Upside here remains limited, with the gold price still unable to break above $1640.

But it found support at $1600 yesterday, and if it creates a higher low above here another attempts to break $1640 may develop. A drop below $1600 targets $1560.

WTI seeing weaker bounces

Dips to $23.50 have found support in recent days, but having faltered mid-week at $25.00, the WTI price has now failed to move above $24.30 overnight.

As a result, we may see $23.00 broken to the downside, bringing $22.00 and $20.50 into view as targets.

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