Gold price, WTI crude oil price and natural gas price higher in early trading
Early trading has seen more gains for commodity prices, lifting gold to its highest level since mid-December.
Gold on the up once more
The spot gold price has made steady gains over the past week, helping to reassert a bullish view.
The next target will be the $2720 highs from mid-November and December. A close above here can open the way to the record highs of late October. Sellers will be looking for a reversal back below $2650 that can then test the December lows.
Gold daily chart
WTI makes gains
The WTI crude oil recovery continues here, as a consolidation pattern over the past week gives way to a new possible move higher.
The October highs at $76 and the August highs above $78 are the next target in the event of a renewed move higher. In the short-term, a move back below $72 might signal some fresh short-term weakness.
WTI crude oil daily chart
Natural gas heads higher
A higher low was formed here for natural gas earlier in the week, and the uptrend appears to be back, following the pullback from the December highs.
Support was found around 3250 this week, and below this 3200 may also come into play. Below this lies 3000, a possible downside target.
Natural gas daily chart
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