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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Gold price edges higher while oil price bounces from support

Gold price are aiming to test $1550 again while oil has bounced from yesterday’s lows.

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Commodities Gold Price of oil
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

Gold looks to test $1550

Gold’s resistance continues to hold at $1550, but dips towards $1520 this week have found buyers.

If the price can create a higher low above $1520, a more bullish picture may emerge. Further declines test $1490.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

WTI bounces from $53

WTI’s sharp rebound yesterday has yet to restore a more bullish view, but a second bounce from $53.00 suggests that buying pressure is building.

To open the way to $56.70 and the highs of August, a push through $55.00 is needed. Further gains above here target $58.84. If the price turns lower from below $55,00, then a lower high is in place and a push lower may result.

WTI chart Source: ProRealTime
WTI chart Source: ProRealTime

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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