Gold price and oil price both head lower
Gold and oil are both struggling this morning, with the latter under pressure as risk appetite wanes across markets.
Gold stuck below trendline resistance
Gold continues to be held below trendline resistance from the mid-May high, with bounces so far being selling opportunities.
Fresh declines head towards $1700 and then $1680. A breakout above $1745 would clear trendline resistance and the highs from the last two days of last week. This brings $1750 and higher into view.
WTI edges lower
WTI continues to suffer from the general risk-off atmosphere, falling to a two-week low.
A small bounce on Friday hit resistance, maintaining the short-term bearish trend, with further downside targets at $31.50. A move above $36.40 helps to revive a more bullish view.
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