Gold price and oil price both rally
Gold has moved off its low from mid-week, while oil is consolidating after a significant surge following a tweet from Donald Trump.
Gold pushes on from mid-week lows
The gold price has recovered from the weakness of mid-week, and is now pushing on to $1620, where it stalled yesterday.
But with only a small dip overnight, it looks like the buyers remain in control. Above $1620, the price targets $1640 and the highs from late March, with a push above creating a higher high and reviving the upward move.
WTI surges after Trump tweet
Crude oil has been given a huge lift by Donald Trump’s tweeting, but it is unclear if the deal to which he alluded will actual come to fruition.
Still, from a price basis we have a potentially more bullish setup, as the price rallies back to the highs of late March around $28.00. A reversal back below $25.00 would be a negative development, while further gains target $34.20 and $36.20.
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