Gold prices have seen a slight decrease, moving back towards previous highs of $2600.00. This is the first significant downward movement in over a month.
Analysts believe that although this pullback is noteworthy, it has not yet tested the previous highs. If prices continue to decline, they could potentially reach the $2531.00 level.
In the crude oil market, WTI prices initially rose earlier in the week but then reversed after reaching the 200-day simple moving average (SMA). The lack of major news from the Middle East has contributed to this volatility. However, prices are still above the 50-day SMA and higher than they were two weeks ago. There is a possibility of another push towards the 200-day SMA, but if prices close below $72.00, it may indicate a new downward trend.
Natural gas prices have also slightly decreased over the past three sessions, approaching trendline support from late August. Despite this decline, there is still strong upward momentum, and a rebound off the trendline could lead to last week's highs. However, if prices close below trendline support, they could potentially reach mid-September highs at 2620.