Gold and WTI edge higher in opening trade
Oil has begun to move up after a week of losses, while gold prices are continuing to hold their ground.
Gold
The expected decline in gold refuses to materialise, and instead the price continues to hold above $1775.
Renewed upside requires a move back above $1790, breaching short-term trendline resistance, and opening the way to $1800 and higher. For the time being, the bearish case is in abeyance, but would be revived with a move below $1770.
WTI
Oil prices remain under pressure, having fallen further on Friday even as equity markets rallied.
Some small gains this morning have reversed some of the negativity, but much more upside is required to breach trendline resistance from the mid-month high.
Even then, it will take a move above $66 to allay fears of further declines. A move back below Friday’s low brings the 200-day simplve moving average (SMA) into play at $60.74, and then down to $58.80 support.
React to volatility on commodity markets
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
1In the case of all DFBs, there is a fixed expiry at some point in the future.
See opportunity on a commodity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a commodity?
Don’t miss your chance. Upgrade to a live account to take advantage.
- Analyse and deal seamlessly on fast, intuitive charts
- Get spreads from just 0.3 points on Spot Gold
- See and react to breaking news in-platform
See opportunity on a commodity?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.