Gold price higher but WTI crude price and natural gas price struggle
Gold still moving higher
The move higher has continued here, putting the spot gold price back within easy distance of the September record high.
Having rebounded from $2600.00 the buyers have reasserted control, and a new record high seems more than likely. A reversal back below $2600.00 would be needed to suggest that the rally has been halted for the time being.
WTI keeps falling
Losses have continued here, though while the WTI crude oil price finished off its lows yesterday the overall bearish view is still in place.
Tuesday’s session saw the price drop back below trendline resistance from July, and it has continued to fall this morning. Trendline support from the September lows comes into play shortly.
Natural gas halts losses for now
The natural gas losses have halted here for now, though the price finished Tuesday close to its lows.
A close back above 2800 might help to suggest that a low has been formed, which would put the price back on course towards the recent highs.
A close back below 2700 signals more weakness in the direction of the 50-day simple moving average (SMA).