Gold price in retreat as oil price edges up
Gold prices have dropped back while oil prices are moving cautiously higher.
Gold
The gold price continues to reverse some of the gains made last week, falling below the 50-day SMA ($1859) and pointing towards further losses in the direction of $1840. The bullish view has come under threat, and an inability to recover the $1870 highs from last week will provide further evidence that, for now, the sellers will continue to have the advantage.
WTI
Here the WTI price has moved off the lows from Friday but remains in a descending channel from last week and earlier. A break above $53.40 would help provide a more bullish view, while a resumption of losses would target $51.14.
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