Gold price, silver price and Brent crude price make gains​

NEW YORK (November 21) The spot gold price has shaken off its indecision from earlier in the week and continues to rally.

​The higher low at $2550.00 provided an entry point for longs and has put new strength into the uptrend. Further gains target $2700.00, and from there the October record high comes into view. A close back below $2600.00 might indicate a drop back to $2550.00 might be developing.

Silver stabilizes after losses

​Spot silver's bounce has faltered, though last week’s low is still in place for now.

​A close back above $31.60 might indicate a renewed push to the upside and might then see the price push on towards the highs of late October. The current bullish short-term view would be negated with a drop back below $30.00.

Brent makes gains

​After two days of losses the price has resumed its march higher, after the fall to the $70.40 support zone.

​In the short-term a continued push higher targets the $76.00 level, which was resistance in October and November. The medium-term bearish view is still in place however, given the series of lower highs in recent months.

IG