$XAU/USD (XAUUSD.CFD)$ Oil prices continue to show a strong rebound, but are unlikely to rise further ahead of the non-farm payrolls release. On the 4-hour chart, MACD momentum is slowing, and RSI has just bounced back from oversold territory. Meanwhile, both RSI and MACD on the 1-hour chart are neutral, reinforcing the possibility of a minor pullback testing 4200.
Additionally, renewed attacks in the Strait have once again spurred oil bulls to return. It’s already impressive that gold has held above 4200.
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