Gold moves up to test swing level from last week of November. Crude oil higher as well.

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Gold moves up to test swing level from last week of November. Crude oil higher as well.

The price of gold is moving higher and near highs for the day. The price is up $24.61 or 0.92% at $2718.36. The high for the day has reached $2721.16.

The move higher is up testing the high from November 25 which peaked at $2721.41 jut above the high for the day.  Get above that level and the price enters in the upper extreme that peaked in November at $2790.07.

Does the price break higher from here or find willing sellers. 

The price is up 4 consecutive days. From the low on December 6, the price is up 4.12%

In other commodity news, crude oil is up $1.88 or 2.74% at $70.46.  The high today reached $70.48. That is approaching the high from last week (and the highest level going back to November 25) at $70.55.  Break above, and the falling 100-day MA comes in at $71.65.

                This article was written by Greg Michalowski at www.forexlive.com.

Source: Gold moves up to test swing level from last week of November. Crude oil higher as well.

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