The gold price has gained steadily over the past two days, although a push above Monday’s high is still yet to occur.
If the price can clear $1580 then the way is clear to target $1590 and the late-January peak. Trendline support from the 5 February low would see $1570 as possible support, with a move below this opening the way to $1560 and then $1548.
WTI pushes back towards $52
The past two weeks have seen the price of WTI bottom out (for the time being) above $49.50.
The rally from the lows of the month has reached $52.00. A close above this level would be a bullish development, targeting lower highs from late January at $53.30 and $54.20.
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