Gold price and natural gas price hit support, while WTI crude price rebounds
Gold back to 50-day moving average
The spot gold price slumped to the 50-day simple moving average (SMA) yesterday, completing the reversal from the rally on Wednesday.
A close below the 50-day SMA would likely point the way to more losses, and bring the $2280/$2300 zone into play. Bulls will want to see a close back above $2400 to suggest a low has formed.
WTI rebounds from the lows
The WTI crude oil price rallied on Thursday, moving off a fresh two-month low, and bolstering the view that at least a short-term low has formed.
Now the price is testing the 200-day SMA from below, and a close above this would help to support the bullish outlook in the medium term. Sellers will need a close back below the $76.00 level to suggest that the price is heading lower.
Natural gas fights to hold support
After three days of losses, the natural gas price is back at the 2060 lows from last week.
A close below this would mark a bearish development, and see the price eat further into the gains from April. If 2060 holds once again, then the price may attempt another bounce towards 2280.