Gold tries to break higher, while Brent crude holds steady and natural gas price rises
Gold tries to break higher, while Brent crude holds steady and natural gas price rises
![Image of oil derricks](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/bg_oil_pump_366223737.jpg/jcr:content/renditions/original-size.webp)
Gold capped below 200-day moving average
Spot Gold prices recovered on Friday, though they were unable to break above the 200-day simple moving average.
Early trading on Monday has seen the price push higher, challenging the 200-day simple moving average again. A close above this and the 50-day simple moving average would then see the price challenge trendline resistance from the July highs. A breakout above this and above $1950 would mark a bullish development, at least in the short-term.
Meanwhile, a failure to clear $1930 would then see the price test trendline support from the August lows ($1885). A close below $1915 would then open the way to $1900 and $1885.
![Spot Gold Daily Chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/content-2-chart-images/Gold25092023.jpg/jcr:content/renditions/original-size.webp)
Brent steady despite trendline break
The price drifted through trendline support last week, but as yet it has not seen much momentum to the downside.
Initial losses might first target $90, and then down to the December 2022 and January 2023 highs around $89 as possible support. For the moment however, the buyers have held the price around current levels.
A resumption of the move higher would see the price target $94 and $95, before beginning a move in the direction of the October and November 2022 highs at $98 and higher.
![Brent Crude Oil Daily Chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/content-2-chart-images/25092023Brent.jpg/jcr:content/renditions/original-size.webp)
Natural Gas rallies
Steady gains from the August low have seen the price break back above the 200-day simple moving average.
While last week saw the price fall back from the September high around 3000, the price then found support around the 200-day simple moving average. Additional gains target 3000 again, and then to the August high at 3050.
A close back below 2750 would see the price back below the 200-day simple moving average and below trendline support from the August low, potentially reigniting a bearish short-term view.
![Natural Gas Daily Chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/content-2-chart-images/25092023ng.jpg/jcr:content/renditions/original-size.webp)
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