Technical analysis: key levels for gold and crude

WTI has clambered above $58 and retaken $59, but gold is struggling to recover from yesterday’s steep drop.

Gold recovers from drop

A sharp pullback for gold yesterday has been followed up by some buying, with resistance for now encountered at $1304.

Further gains target $1312, while a move back below the overnight lows of $1292 would suggest the sellers are back in control.

Gold chart

Gold chart

WTI recovers $59.00

The rally goes on for WTI, with a breakout above $58.00 leaving just $59.41 before a wider move towards $62.56.

Beyond this $64.20 comes in as possible resistance. A possible resistance could be $55.00 resistance in the event of a drop, but so far the uptrend remains intact.

WTI chart

WTI chart

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