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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Gold price little changed as oil price faces tough choices

The gold price has been quiet so far, while oil prices are looking for some clear direction after last week’s losses.

Source: Bloomberg

Gold moves sideways

Gold has not really broken through trendline resistance so much as it has drifted through it without noticing. The price continues to amble along in a sideways fashion, holding above its recent area of support, and also above the 50-day SMA ($1923) while not yet breaking higher. A rally from current levels targets $1985 and then $2013. A more bearish view still requires, as it has done for more than a month now, a break below $1900.

WTI in triangle pattern

After the losses of September so far, the WTI price has held the rising 100-day SMA ($37.34). A break above $38 would clear trendline resistance from last Tuesday’s high and give weight to a more bullish view. Alternatively, we look for a break below rising support from the Tuesday low that also takes out $37 to clear a path to further downside.

Source: ProRealTime

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1In the case of all DFBs, there is a fixed expiry at some point in the future.

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