Gold’s climb intact as oil continues to fall
Gold prices are still on the up while oil is unable to find any bullish momentum, slipping lower for another day.
Gold uptrend still in place
The price shrugged off the volatility seen on Wednesday, when a huge daily range was resolved by the price staying almost exactly where it started the day. The relentless recovery is still ongoing, with no sign of any particular change that might point towards even a short-term pullback. Further gains target $1900 now that $1875 has been broken, and a longer-term view looks towards $1960, the peaks in November and January.
WTI drops back for another day
Oil has shed ground in the past few sessions, putting the bullish view on hold for the time being. Further declines would target the 100-day simple moving average (SMA) at $59.70 and then on to $58.80. Bulls will want to see a revival back above $64.
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