Gold price and WTI crude price hold steady, while natural gas price rallies
While gold and WTI have held relatively steady, natural gas prices have rallied back above key levels.
Gold holds steady
The spot gold price has headed lower over the previous four sessions, though it is attempting to stabilise again in early trading this morning.
Consolidation still remains the outlook here, while the medium-term bullish view is still in place. A close above $2420.00 will help to suggest that a higher low has formed.
WTI quiet in early trading
WTI has had a choppy week, rallying on Monday before dropping back again on Tuesday.
A close above $74.00 would signal that a low may be forming, putting the price back on course for the 200-day simple moving average (SMA).
Sellers will want to see a close back below Monday’s low of $71.45 to open up the way to more downside.
Natural gas pushes to trendline resistance
Natural gas has rallied for three sessions, and has moved back above 2000 and above 2061.
Trendline resistance from the early July peak now comes into play, and a close above this will help to bolster the bullish short-term view.
There is much to be done to restore the uptrend that ended in late June, and a lower high below 2300 might yet lead to more declines in the medium-term.
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