Gold price and oil price move higher
Gold and oil have rediscovered their bullish momentum, pushing higher in early trading.
Gold starts to push higher
It looks like the gold price is finally discovering some upward momentum, after yet another higher low yesterday.
The price moved briefly below $1720 and then rallied, and is now challenging the $1730 high that has marked the peak all week. Above here, $1740 and then $1765 come into play.
WTI on the up again
WTI has been given a significant boost following the Organization of the Petroleum Exporting Countries' (OPEC’s) push to ensure compliance among members on output cuts.
As a result, the price has pushed back towards the highs from 8 June above $40.00, with dip buyers over the past week being rewarded for their patience. The bullish view remains in place unless we see a reversal back below $37.50.
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