Gold price back at $3000 and WTI crude price rises
Gold is back at the key $3000 level, while oil prices have rebounded in early trading.
Gold
After hitting $3000.00 last week, the spot gold price has stalled, perhaps unsurprisingly. The uptrend is clearly intact, with even the late February dip buyers having been rewarded. The bias remains to the upside, and it would need a close back below 2900 to suggest some near-term weakness was at hand.
WTI
While the WTI crude oil price continues to edge higher, it should be noted that recent attempts to break back above $68.00 have been unsuccessful. If the price can clear $68.00 then $70.00 comes into view.
A renewed turn lower targets $65.00, the lows seen earlier in the month. This was also the low from September, and a close below this would mark a significant development for the price.
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