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Over the past week, WTI crude oil prices displayed notable strength, posting a 1.4 percent gain. This rise contributes to an impressive 4.4 percent increase since the beginning of September. What makes this development even more noteworthy is the potential for the commodity to achieve a fourth consecutive monthly gain, a streak not seen since March 2022. This...
Gold Price – Technical Outlook
Daily Chart
After experiencing careful declines since mid-July, gold price is currently positioned directly on the ascending trendline originating from February, as depicted in the chart below. If this trendline is breached, it could pave the way for a more pronounced bearish technical outlook. This scenario would potentially...
Gold (XAUUSD) Technical Analysis
Using the 1-day timeframe, it is imperative to note that the price of gold rebounded slightly from a significant level last Friday, yet it failed to hit its 50-day moving average of $1,945. It is crucial to keep a keen eye on this level as it now acts as a primary barrier. This area also serves as the previously broken support,...
