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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Gold price and oil price both in retreat

Both gold and oil are losing ground this morning, hit by the rising dollar and virus fears.

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Gold in retreat as dollar strengthens

Gold has been pushing lower over the past few sessions, carving out lower highs and lower lows.

The bounce on Friday ran out of steam at $1560, and further declines towards and below $1500 create a lower low. A rebound through $1600 is needed to provide a more bullish view.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

WTI turns back towards recent lows

As with equities, so with WTI. Selling the rallies remains the approach here, as we saw on Friday when the bounce stalled at $34.00.

Further declines target last week’s low at $27.60 for now. Below this the next major area of support is 2002 and $15.50 a barrel.

WTI chart Source: ProRealTime
WTI chart Source: ProRealTime

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