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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 falls and oil price falters at resistance

Gold is in retreat this morning, and another attempt by oil to break higher has failed.

Gold bars Source: Bloomberg
Commodities Gold
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

Gold remains under pressure

We may be on the cusp of a bigger retracement in gold, although previous support at $1490 may come in to play to prevent this.

Nonetheless, even a deep pullback towards $1440 would leave the broader uptrend intact. A rebound above $1510 would then suggest a move back towards $1550.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

WTI stumbles again at resistance

WTI’s valiant attempt to push higher yesterday came to nought, as $57 remains solid resistance.

The price may now push back towards $53, renewing the current trading range. Bulls will have to wait for a close above $57 to suggest a move higher is underway.

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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