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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.

Natural gas price surges while WTI crude oil price and gold price ease back

Natural gas has hit its highest level since the end of June, while both gold and WTI are quieter after recent gains.

Natural gas Source: Adobe images

Gold drops back from new record

The spot gold price has enjoyed a strong rally in the wake of the Federal Reserve (Fed) decision to cut interest rates.

The past two months have seen the maintenance of the uptrend in place over the last year. Pullbacks have been short-lived of late, and even the brief weakness of early last week was then met by buying as the US dollar weakened.

A period of short-term weakness would need a close below $2550.00.

Gold daily chart Source: IT-Finance.com
Gold daily chart Source: IT-Finance.com

WTI crude oil bounce pauses

The WTI crude oil rally from September low has stalled, though it is not clear that a reversal has begun.

For that to happen, we would need to see a close back below $70.00, which might indicate that a lower high has formed. This would then bring a move back to the September lows into play.

A close back above $72.00 puts the buyers back in charge once more.

WTI daily chart Source: IT-Finance.com
WTI daily chart Source: IT-Finance.com

Natural gas at new three-month high

The ​natural gas price surged on Friday, hitting its highest level since the end of June.

This marks an impressive recovery from the August lows, but further upside seems likely over the medium-term. Further gains target the 3050.00 level from January and May.

Sellers have had little luck in recent days, and a close below 2450.00 would be needed to indicate some short-term weakness is ahead.

Natural gas daily chart Source: IT-Finance.com
Natural gas daily chart Source: IT-Finance.com

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