Gold price down as oil price edges higher
Gold continues to fall, but oil prices are still demonstrating some signs of strength.
Gold falls further
A stronger dollar continues to drive gold lower, with no sign of a recovery yet in play. Momentum has shifted to the downside as the price heads towards support at $1863, while below this the 100-day MA at $1842 comes into view. A rally above $1940 is needed to shift the outlook towards a more bullish one.
WTI recovery continues
While the WTI price fell back from the $41.30 level earlier in the week, it has continued to hold above the 100-day SMA ($38.68). A renewed push higher targets $42, and then on towards $44, the highs from late August. A more bearish view requires a drop below $38.
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