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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Gold price and oil price move higher

Gold and oil are both on the up today, showing signs of further bullishness.

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Commodities Price of oil

Written by

Chris Beauchamp

Chris Beauchamp

Chief Market Analyst

Article publication date:

Gold breaks through resistance

The price of gold has finally broken higher, moving above the $1497 area that has acted as resistance since mid-October. Further gains head towards $1530 and $1550.

Having built a base around $1480, higher lows will provide buying opportunities, with a move below this negating the more bullish outlook.

Gold price chart Source: ProRealTime
Gold price chart Source: ProRealTime

WTI climbs higher

The WTI rally continues to gather pace, clearing the 50-day and 100-day simple moving averages (SMAs) over the past three days.

Further gains head towards $58.00 and $59.40. A move back below $54.50 is needed to begin to suggest a reversal is at hand.

WTI price chart Source: ProRealTime
WTI price chart Source: ProRealTime

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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