Gold and Oil - Review from 07.10.2024

Financial and commodity markets analytics


Gold

After testing the range boundaries, the price of gold was unable to break out. The price is in its mid-zone and in this situation, in particular, considering the absence of any triggers, it is quite difficult to predict a scenario for the short-term perspective. It is necessary to observe the information background and the price dynamics.

Oil

Last week, the price of WTI brand increased by 9.1%, which was the most significant growth since March 2023. Today, the growth continued and quotes reached our previously marked resistance area, located above the $76 mark. To make a trading decision, it will be necessary to assess the dynamic of trades in this zone.