Crude oil tests 2-year high

Nymex Light Crude is rising steeply, testing resistance at its two-year high of $54.50/barrel.

Nymex Light Crude

Breakout would signal a primary up-trend but I would wait for confirmation from a retracement that respects the new support level.

Rising crude prices would be a bullish signal for gold; the two tend to rise and fall together over the long-term.

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