Gold rebounds as oil looks for further gains
Oil prices have continued their recovery, while gold is still able to hold its ground.
Gold
After dipping to $1780 yesterday the price has recovered, and now further gains target $1810 and then $1830.
Despite expectations to the contrary, the price has held up after its strong August bounce, avoiding any turn lower for the time being and preventing a more bearish view developing.
WTI
The recovery continues here, as the price clears the 100-day simple moving average (SMA) of $68.10 and pushes on towards $70, where it stalled in early August.
Above here it targets $74, and then on to $76, with steady gains still looking likely. Bearish price action has been unable to take hold, leaving buyers firmly in charge.
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