Gold price and oil price both fall
Commodity prices have come under pressure in early trading, with oil particularly hard-hit.
Gold edges lower
Gold has turned lower in early trading, although for now it is holding the 50-day SMA ($1938). A move below this likely creates a more bearish impression and brings $1863 into view. A recovery above $1970 is needed to help revive a forecast of higher prices.
WTI in full retreat
The WTI price has turned down from the lower high created last week, dropping back from the 50-day SMA ($41.26). Further declines target $38.40, the 100-day SMA, and then on down towards $36 and the lows seen earlier in September. Bulls need to lift the price back above the 50-day SMA to help revive a bullish view.
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