Gold prices corrected higher after testing support marked by the 38.2% Fibonacci expansion at 1217.29. A daily close back above support-turned-resistance at 1236.66 opens the door for a retest of the 1260.80-66.44 area. Alternatively, a reversal lower that breaches below the 38.2% level exposes the 50% Fib at 1202.28.
Gold, Crude Oil Prices Diverge as Market Mood Sours After G20
CRUDE OIL TECHNICAL ANALYSIS
Crude oil prices remain noncommittal near trend support guiding gains since early February, now at 66.07. Breaking below that on a daily closing basis initially targets the 63.96-64.26 area. Alternatively, a convincing rebound above the 68.74-69.53 zone paves the way for a test back above $72/bbl figure.
Gold, Crude Oil Prices Diverge as Market Mood Sours After G20
