Gold and oil rallies find new momentum
Gold has made headway since Friday’s drop, and oil prices are on the cusp of hitting new three-year highs.
Gold
Gold has recovered from Friday’s dip towards $1880 and has pushed higher once again, remaining within the rising channel of the past three weeks. Bullish momentum continues to prevail, and Friday’s dip-buying points towards the strength of the bounce.
WTI
The climb in crude oil prices over the past two weeks has carried WTI back to levels last seen in early March. The mid-2018 highs at $76.81 now come into view. A break higher now seems likely, confirming the strength of the bullish trend.
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