Gold falls back while Brent crude surges after bullish break
Gold and Brent Crude diverge, with energy prices on the rise and precious metals on the back foot.

Gold tumbles towards ascending trendline
Gold has fallen back once again this morning, with the precious metal failing to create a fresh high despite yesterday’s gains. Nevertheless, the trend of higher lows remains key here, with a break below the $1841 level required to bring a more bearish outlook into play. Until then, there is a good chance the bulls come to the fore once again here.

Brent crude breaks back into wider bullish trend
Brent crude has managed to break from its intraday trend of lower highs and lows to bring about a fresh bullish signal for the market. With a wider bullish outlook in play, it was always likely that Brent crude would break higher soon enough. However, now that we have seen that rise through trendline and $56.01 resistance, it looks like the bulls are back in business. With that in mind, further upside looks likely here, with price seeking to break from a phase of consolidation seen earlier this morning. A break below the $56.15 level would be required to bring a wider pullback into play.


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