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Technical analysis: key levels for gold and crude

Oil is fighting hard for $38, but overall it looks like the sellers are still in charge.

CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.
Gold bars
Source: Bloomberg

Gold puts sellers on the front foot
Given the steady progression of lower-highs since mid-March for gold, it might prove sensible to see rallies as possible selling opportunities. A failure to push on beyond $1240 indicates the sellers are back in charge, with targets around $1220 and then $1210 in sight. 

WTI keeps low trend
Although back above $38 for now, the commodity is still trending lower. A move back below $38 would then target $36, the low from 15 March, with the third weekly pivot support at $34.44 the next target. The price has to move above $40 to indicate firm bullish momentum. 

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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.