Gold price started a fresh increase from the $1,810 level. Crude oil price is rising and might gain pace above the $113.75 resistance.
Important Takeaways for Gold and Oil
· Gold price started a decent increase after it formed a base above $1,810 against the US Dollar.
· There is a key bullish trend line forming with support near $1,845 on the hourly chart of gold.
· Crude oil price gained pace after it broke the $108 and $110 resistance levels.
· There is a major bullish trend line forming with support near $111.10 on the hourly chart of XTI/USD.
Gold Price Technical Analysis
Gold price formed a base above the $1,800 and $1,810 levels against the US Dollar. The price started a fresh increase after it broke the $1,825 resistance zone.
There was a clear move above the $1,840 level and the 50 hourly simple moving average. The price even cleared the $1,850 level and traded as high as $1,869 on FXOpen. Recently, there was a downside correction below $1,850, but the bulls protected $1,840..More info: blog FXOpen
