CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

Gold price and oil price both head lower

Gold is dropping back as the dollar strengthens while oil is shedding some of its recent gains.

Gold edges towards bottom of trading range

Gold prices are heading towards the $1660 area, the low from earlier in April. If this holds then the $1660-$1740 range remains in place and a rebound towards $1740 could develop.

Alternatively, the price may break lower, bringing the 50-day simple moving average (SMA) at $1639 into view, followed up by the 100-day SMA at $1592 and then the $1570 level, previously support at the end of March.

WTI heads lower after trendline break

The WTI price has broken its short-term rising trendline, bringing a test of $18.00 into view.

Below this, $14.70 and then $12.30 are downside targets. A revived uptrend requires the price to move back above $21.00.


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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