Gold price and WTI crude price higher, while natural gas price drops back
Gold and oil both saw losses on Thursday, but have edged higher this morning. Meanwhile, natural gas could be at risk of further falls.

Gold struggles to make progress
The gold price saw some of the gains from earlier in the week slip away on Thursday, though it remains above the lows seen last Friday.
The zone around $2280 continues to hold as possible support, while a new move to the upside targets trendline resistance from the May highs.
A breakout above $2360 would break trendline resistance and target last week’s highs at $2385.

WTI tests trendline resistance
Thursday saw a weaker close for WTI as it tested trendline resistance.
However, the price has recovered on Friday, preventing the formation of a lower high for now. A close below yesterday’s lows would help to reinforce the short-term bearish view.
A close above trendline support targets the $80 highs from late May.

Negative divergence in natural gas?
The price has retreated for two days, though the move higher from late May remains in place.
In the short-term, bulls will want to see a close back above 3200 to open the way to more upside.
Sellers will note the divergence between the price and daily stochastics, which hit a lower high even as the price reached a higher high. This looming divergence could spell trouble in the short-term.

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