Gold prices appear to be on the rise, sparking optimism among investors. After reaching a low just above $2550, the metal has experienced a strong start to the week. If gold manages to close above $2600, it would strengthen the bullish outlook, possibly pushing prices toward $2800 over time. However, if prices dip below $2550, the bearish trend could resume, giving control back to sellers.
In contrast, WTI crude oil prices are facing downward pressure. After a brief rally on Friday, oil prices have remained above the $67.00 mark. A drop below this level would open the door for further declines, potentially reaching the September lows of $65.00, which also marked the lowest point of 2023. A short-term rebound could see prices testing the $72.00 range.
Meanwhile, natural gas prices have stalled after a sharp rise on Friday. The price is currently hovering just below 3200, the highest level since May. Despite this pause, the overall rally remains intact, following a bounce from early November’s low above 2600. Looking ahead, natural gas could see further gains, with the next targets set at the October 2023 highs of 3600, and a key level at 3380 from November 2023 acting as an intermediate resistance.
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