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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’s rally falters as oil edges up

Gold has run into some resistance in its current bounce, but for oil the previous two days of weakness is already seeing a small reversal.

Source: Bloomberg

Gold

Buyers will be asking whether the failure to hold Thursday’s gains means that a reversal is in the offing, bringing the recent bounce to an end. This view would be strengthened with a drop back below $1790. Alternately, if the gold price holds above $1790 then a continuation of the recent bounce could still be in play, targeting $1830 in the first instance.

Source: ProRealTime

WTI

Crude oil stabilised yesterday, and with today seeing a higher low from yesterday it may well be that a new leg higher is beginning that will target the week’s high. This view would be negated with a drop below $70, which would suggest a deeper retracement that remains within the current uptrend.

Source: ProRealTime

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