Gold price and Brent crude price continue to push higher
Gold and Brent crude are on the rise, with recent upward surges taking us into or through key resistance levels.
Gold pausing after recent gains
Gold has been on the rise over recent trading days, with Friday's rally leading us into a break through the notable $1744 resistance level.
That points towards further upside to come, with the price starting to rise this morning despite overnight losses. The ability to maintain higher lows is key here, with a bullish outlook in play unless we see a break below the $1742 low.
Brent crude rallies into major resistance level
Brent crude has been on the rise overnight, with the rally taking us into a crucial resistance level at $43.43. That peak from two weeks ago must be overcome if we are to expect further upside from here.
As such, while the short-term trend points towards further strength, it makes sense to await a breakout through this resistance level to confirm a continuation of this bullish trend. To the downside, we would need to see the $42.22 level broken if we are to start seeing the bearish sentiment come back into play.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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.
Speculate on commodities
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
Live prices on most popular markets
- Forex
- Shares
- Indices
