Gold prices have retreated from last week’s peak of around $2800, but the broader upward trend remains intact. Since July, the price has consistently stayed above the 50-day simple moving average (SMA), forming a series of higher highs and lows. A short-term dip could bring the price close to the late September highs, just under $2700.
WTI Crude Oil Sees Gains
WTI crude oil has regained some ground after falling to a one-month low last week. The price has climbed back above $70, with the next target set at $72, which had served as resistance in late September. A move above $72 would signal a break in the series of lower highs seen since early October.
Natural Gas Price Edges Up
Natural gas prices, after a mid-October rally, pulled back but have shown some early signs of recovery. While it’s unclear whether a low has formed, a close above 2750 could confirm this. Traders might consider a long position with a stop-loss just below the late October and early November lows, around 2610, if the rebound continues.
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