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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 69% 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 price at new record, while both WTI crude price and natural gas price rebound​

Commodities are rising once more, with oil and natural gas rebounding and gold hitting new highs.

Oil Source: Adobe images

​​​Gold still pushing higher

Spot gold prices have made fresh highs and show no sign of reversing course. Short-term weakness will target the previous peak at $2685.00, and then down to the lows of October around $2600.00.

Spot gold chart Source: ProRealTime
Spot gold chart Source: ProRealTime

​WTI makes further gains

WTI crude oil rebounded for a second day on Tuesday, returning to the 50-day simple moving average (SMA). Reports of an imminent Israeli attack on Iran have helped to support the price after it hit three-week lows last week.

​For the moment, positive momentum appears to prevail, with the price likely to test $72.45 and then on to the highs of October at $77.00. A reversal back below $70.00 could see last week’s lows tested again.

WTI crude oil chart Source: ProRealTime
WTI crude oil chart Source: ProRealTime

​Natural gas continues to recover

​The decline from the highs of early October has been halted, and since Friday’s low the natural gas price has continued to recover. Further short-term gains head back towards the October high at 3120.

​A close and reversal back below 2630 would mark the beginning of a fresh leg lower.

Natural gas chart Source: ProRealTime
Natural gas chart Source: ProRealTime

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