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Gold price stalls while oil price continues to climb

Gold is still unable to clear $1480, while oil is busily pushing higher once more.

Gold stuck fast below $1480

It continues to be a frustrating time for gold bulls – the price has failed to break $1480, with repeated pushes to this level running out of steam.

So long as this remains the case then a more bearish prevails, at least in terms of a drop back towards rising trendline support from the 12 November low. As long as this holds, we may, eventually, see a rebound in gold that takes us through $1480.

WTI keeps on climbing

A steadier trend has emerged over the past few days for WTI, as the price climbs towards $62.56.

Dips towards the 50-hour simple moving average (SMA) at $60.84 continues to find buyers, with a steady series of higher lows and higher highs.

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