Gold remains stuck below $1790 while oil prices hesitant ahead of OPEC
Gold continues to bounce along below $1790, while the ongoing OPEC standoff could see some weakness for oil prices.
Gold
Last week saw the hopes of the sellers dashed as the drop to $1760 was reversed. The price finds itself back above the previous June low, but a rally through $1790 continues to elude it. Sellers will want to push the price back below $1760 to open the path to renewed downside.
WTI
‘Steady and relentless’ is still the theme for oil, with a rising channel continuing to prevail, as it has done since late May. Additional upside targets $76.81, while a move below $73 would be needed to dampen the overall bullish view.
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