Gold price rebounds as oil struggles
Gold is heading back towards highs last seen in mid-March, while oil is seemingly unable to pick itself up after recent losses
Gold rallies back towards recent highs
The price of gold has seen an impressive bounce from the lows of late March, forming a double bottom around $1685. Now the buyers need to muster the momentum to drive the price above $1760 and clear the mid-March high to provide an indication of a broader bullish move. A reversal back below $1730 would suggest a return to the March low is in the offing.
WTI heads sideways
Sideways trading continues to dominate here, as the price of WTI holds above $58 but fails to make much headway back above $61, as we saw yesterday. Continued losses below $58 would give additional life to the bearish thesis, but at present the uptrend is still hanging on, and a move back above $62 would revive the move higher.
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