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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

Both gold and oil are looking to continue their strong rallies.

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Gold drops back but finds support

While the price for gold dropped back from its highs overnight, it has since found support at $1314.

A further push higher continues to target $1326, then $1337 and $1358. The near-parabolic move has yet to see a meaningful retracement but, below $1314, the first areas of possible support are $1307, and then $1295.

WTI keeps on moving higher

The uptrend remains in place for WTI, but bulls may wish to wait for a deeper retracement intraday to offer a more attractive risk-reward outlook.

The level to watch on the upside is still $60.74, while $59.00, and then $55.67, could be areas where buying pressure will emerge.

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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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