Gold price is showing positive signs above the $1,800 level. Crude oil price is struggling below $80 and might resume its decline.
Important Takeaways for Gold and Oil
· Gold price faced resistance near $1,832 and corrected lower against the US Dollar.
· There is a key bullish trend line forming with support near $1,808 on the hourly chart of gold.
· Crude oil price started a fresh decline from the $82.00 resistance zone.
· There was a break below a major bullish trend line with support near $79.75 on the hourly chart of XTI/USD.
Gold Price Technical Analysis
Gold price attempted an upside break above the $1,825 resistance zone against the US Dollar. The price even cleared the $1,830 level, but the bears were active near the $1,832 zone.
A high was formed near $1,833 and the price started a fresh decline. There was a clear move below the $1,810 and $1,805 support levels. The price traded as low as $1,797 on FXOpen and recently started a fresh increase....More info: blog FXOpen