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Bulls in Control: Gold Price and Crude oil Price Target More Positives

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The gold price increased and traded above the $1780 resistance. Crude oil price has also been rising and may rise further above $82.50.

These are the most important lessons for oil and gold

· Gold price found support near the $1,720 level and started a fresh increase against the US Dollar.

· There is a key bullish trend line forming with support near $1,792 on the hourly chart of gold.

· Crude oil price gained bullish momentum above the $80.00 resistance zone.

· There is a major bullish trend line forming with support near $81.00 on the hourly chart of XTI/USD.

Technical Analysis of Gold Price

The base of gold price was above $1,720 against the US Dollar. The price began a new rise and was able clear the $1.750 and $1.765 resistance levels.

The price moved above the $1780 resistance level and the 50 hourly simple moving mean. FXOpen showed that the price broke through the $1,800 resistance and traded as high at $1,804 Recently, the downside correction was below the $1800 level.

Gold Price and Crude Oil Price Aim More Upsides, Bulls In Control
Hourly Chart for Gold Price

Near the $1,792 mark is immediate support. A key bullish trendline is also in place with support close to $1,792 on gold’s hourly chart.

The trend line is almost at the 23.6% Fib regression…



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