Gold and Oil Technical Analysis

Gold is testing $1,160 Fibonacci support again after struggling with resistance at a lower high near $1,170. RSI drifting back toward 50 indicates upward momentum slowing. Potential support on a breakdown may appear in the $1,150 to $1,152 area.

Crude Oil WTI is breaking down today, taking out $43.00 former channel support that may emerge as new resistance. RSI under 50 and falling indicates downward pressure increasing. Although approaching RSI oversold a retest of $42.00 remains possible with next support near $41.30.

Leave a Reply

Your email address will not be published. Required fields are marked *