Gold’s push higher continues
Range trading appears to have given way to steady gains for gold, with higher lows and higher highs seen since last Wednesday.
Further gains target $1450, with the overnight pullback finding support at $1420. A move back below $1415 suggests some near-term weakness that might find support at $1400.
WTI rallies off recent lows
Unsurprisingly, rising tensions in the Gulf have boosted oil prices, with the WTI price breaking higher after hitting $55.00 last week.
Further gains target the $58.00 level that marked resistance in the middle of last week, while above this, $59.40 and $61.00 come into view. A fresh push lower could see $55.00 tested as support once again, and then down to $52.00.