Gold price, WTI crude oil price and natural gas price higher in early trading
Early trading has seen more gains for commodity prices, lifting gold to its highest level since mid-December.
Gold on the up once more
The spot gold price has made steady gains over the past week, helping to reassert a bullish view.
The next target will be the $2720 highs from mid-November and December. A close above here can open the way to the record highs of late October. Sellers will be looking for a reversal back below $2650 that can then test the December lows.
Gold daily chart
WTI makes gains
The WTI crude oil recovery continues here, as a consolidation pattern over the past week gives way to a new possible move higher.
The October highs at $76 and the August highs above $78 are the next target in the event of a renewed move higher. In the short-term, a move back below $72 might signal some fresh short-term weakness.
WTI crude oil daily chart
Natural gas heads higher
A higher low was formed here for natural gas earlier in the week, and the uptrend appears to be back, following the pullback from the December highs.
Support was found around 3250 this week, and below this 3200 may also come into play. Below this lies 3000, a possible downside target.
Natural gas daily chart
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
React to volatility on commodity markets
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
See opportunity on a commodity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a commodity?
Don’t miss your chance. Upgrade to a live account to take advantage.
- Analyse and deal seamlessly on fast, intuitive charts
- Get spreads from just 0.3 points on Spot Gold
- See and react to breaking news in-platform
See opportunity on a commodity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
