Gold price continues to fall as oil price moves up once more
Gold is still out of favour, moving lower for another day while oil prices have resumed their move higher.
Gold heads lower
Yet again the gold price has opened lower, with expectations that the sequence of lower daily highs will continue. Further declines head towards $1840, and then on to $1815. A rally back above $1860 might help to bolster the bullish view, but this would then require a move back above $1873 to provide much more bullish impetus for a longer-term move.
WTI edges up again
WTI price has continued recovery, moving up for another day as the bounce from Friday’s lows continues. $54 is now back in view as a target, with further gains beyond this expected. The bearish view now looks to have been put on the back burner once more, only to be revived if we see a drop below $51.
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