Gold price started a fresh increase above the $1,750 resistance zone. Crude oil price is sliding and remains at a risk of more losses below $90.
Important Takeaways for Gold and Oil
· Gold price gained pace after it cleared the $1,750 resistance against the US Dollar.
· Recently, there was a break above a key bearish trend line with resistance near $1,762 on the hourly chart of gold.
· Crude oil price started a fresh decline from the $96.00 and $96.50 resistance levels.
· There is a crucial bearish trend line forming with resistance near $91.20 on the hourly chart of XTI/USD.
Gold Price Technical Analysis
Gold price formed a base above the $1,700 level and started a fresh increase against the US Dollar. The price broke the $1,720 resistance to move into a positive zone.
There was a clear move above the $1,750 resistance and the 50 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $1,762 on the hourly chart of gold...More info: blog FXOpen
