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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 has recovered from losses yesterday, but oil is back to fresh lows for the year.

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Gold still on the up

The price of gold continues its move higher, with the drop yesterday merely providing another entry point for longs. The $1225 area may provide some resistance, but above this the $1236 area comes into play. A move back below $1214 would target $1204 and $1195.

However, the steady rising trend seen since the August low would suggest that pullbacks towards $1200 remain buying opportunities.

WTI hit hard again

Once again another rally has been smashed, with the price of WTI dropping to fresh lows for the year.

The price has managed to bounce off the $52.93 area, but the sellers remain in charge until we see a move back above $58.20.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.  Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. 

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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