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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

A rising channel in gold is guiding the price higher, while WTI has recovered from its mid-week fall. 

Oil
Source: Bloomberg

Gold still moving upwards

The price of gold continues to clamber higher, with a sequence of higher lows seen since the end of October. Now, the price needs to move above $1290 to confirm a breakout is in progress.

An ascending channel continues to hold sway, with a move above $1284 likely to target the $1290 zone. Rising support is possible around $1273.

WTI starts resuming climb above

The shakeout for WTI earlier in the week looks to be giving way to a resumption of the uptrend.

The price held at $55.00, so now a move back above $56.58 would target the high from last week at $58.00. 

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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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