Gold price, WTI crude price and natural gas price make early gains
Commodity prices have moved higher to start the week, indicating a resurgence in risk appetite.
Gold on course for previous highs
A new leg higher has begun here, as the spot gold price extends Thursday’s strong rally.
Further gains bring $2450.00 into view, followed up by the July highs above $2480.00. The uptrend remains in place, and near-term weakness would require a close back below $2350.00.
WTI continues to rally
WTI crude oil prices have rebounded from recent lows and are on course to test the 200-day simple moving average (SMA) once more.
This is where gains stalled in the second half of July, so all eyes will be on this and horizontal resistance at $78.00. A renewed turn lower targets the August lows.
Natural gas gaps higher
The natural gas rebound has gathered pace here, with a gap higher that has taken the price to a one-month high.
This puts it above the 2300 highs from the middle of July and leaves the buyers in charge, with a test of the 200-day SMA on the cards.
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