Last week saw the spot gold price hit a fresh record high, while brief weakness on Friday was halted at $3000.00 as support. A renewed move higher targets last week’s high at $3057.00, and then on to new record highs. Sellers will need a close back below $3000.00 to suggest a more sustained leg lower is underway.
Source: IG
Source: IG
WTI
The counter-trend bounce has continued for WTI crude oil prices, and buying this morning has negated any expected continuation of the weakness seen overnight. A close back below $67.00 might suggest that a lower high has been created, which could put the price back on course to test $65.00. Further gains target $70.00, and then $73.00.
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