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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 rally after recent declines. 

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Gold aims for a recovery

Gold has managed to bounce back above $1337, with the rising 100-period simple moving average (SMA) on the four-hour chart ($1335) acting as support.

Further gains back above $1350 would target the peak from last week at $1366. Below $1335, the $1326 and $1307 levels come into play. 

WTI dip buyers emerge

Losses for WTI over the past three sessions have carried the price below $64.00.

However, it would take a move below $62.78 to create a new lower low. Until this happens, the buyers still have the advantage. Upside targets include $64.82, and then $66.58. 

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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