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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 is looking to recover from its pullback, and oil is aiming to push on from its recent highs. 

Gold
Source: Bloomberg

Gold could attempt another bounce

Gold dip buyers got their fingers burnt yesterday, as the bounce from $1323 fizzled out at $1335. But it looks like another attempt could be in the offing, with buyers defending the $1320 level. A move higher from here targets $1335/$1337, then on back to $1358.

A move below $1320 raises the prospect of a drop back towards the post-July rising trendline around $1310.

WTI pushing decisively ahead

Having rallied off $47.50 earlier in the week, WTI is now looking to drive decisively above $49.50, then target $50.50 and potentially higher. Above $50.50 the next big level would be $52.

A move below $47.50 is needed to put a more bearish spin on things. 

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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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