Gold price continues rally as oil price struggles
While oil prices fight to rally, gold remains firmly in its recent uptrend.
Gold still in short-term uptrend
Gold leaped off rising trendline support on Friday, and continued to move higher, although it has failed to return to the $1780 highs seen earlier in the week.
The bullish view remains in place in the short term unless we see a reversal below $1740, while additional gains target $1780 and higher.
WTI fights to rally
WTI finds itself at a critical juncture, having seen the gains from Thursday eaten away on Friday.
A move below $37.00 reaffirms the short-term negative view, while a rebound targets $39.50 and then $41.50.
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