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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

Gold’s decline has stalled, but shows no sign of turning higher yet, while oil is still in retreat. 

Gold mining
Source: Bloomberg

Gold looks set to continue the downward move

The small bounce off $1241 seems to be running out of steam for gold, and thus it looks like the downward move will continue if $1241 is broken. The low from May at $1214, is the next target.

We would need to see a move above $1255 to really show that a bounce is in play.

WTI in a bearish zone  

Another drop for oil yesterday took WTI into a bear market, with no sign of a turnaround here either. On the daily chart, if $42.80 breaks then $39.60 is the next target.

Bulls need a move above $45.30 to increase the prospect of a bounce. 

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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