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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 potential breakout in gold has been stymied, while oil’s decline continues.

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Gold rally knocked back

An attempt to close above $1235 came to naught yesterday for gold as risk appetite recovered, but if equities drop once more it will likely make another attempt to break above $1235.

Above this, $1260 comes into view, and $1220 remains as possible support.

WTI still burdened by selling

The decline continues here, with WTI recording a new lower low.

A rebound would need to clear the $70 area to break the swing high from the past week, otherwise more losses seem likely. The price is now below the early September low at $67, so further declines target $64.

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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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