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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​Gold price at new record, while both WTI crude price and natural gas price rebound​

Commodities are rising once more, with oil and natural gas rebounding and gold hitting new highs.

Oil Source: Adobe images

​​​Gold still pushing higher

Spot gold prices have made fresh highs and show no sign of reversing course. Short-term weakness will target the previous peak at $2685.00, and then down to the lows of October around $2600.00.

Spot gold chart Source: ProRealTime
Spot gold chart Source: ProRealTime

​WTI makes further gains

WTI crude oil rebounded for a second day on Tuesday, returning to the 50-day simple moving average (SMA). Reports of an imminent Israeli attack on Iran have helped to support the price after it hit three-week lows last week.

​For the moment, positive momentum appears to prevail, with the price likely to test $72.45 and then on to the highs of October at $77.00. A reversal back below $70.00 could see last week’s lows tested again.

WTI crude oil chart Source: ProRealTime
WTI crude oil chart Source: ProRealTime

​Natural gas continues to recover

​The decline from the highs of early October has been halted, and since Friday’s low the natural gas price has continued to recover. Further short-term gains head back towards the October high at 3120.

​A close and reversal back below 2630 would mark the beginning of a fresh leg lower.

Natural gas chart Source: ProRealTime
Natural gas chart Source: ProRealTime

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