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Technical analysis: key levels for gold and crude

Gold has finally found some real upward momentum, while the oil rally has surged back to life.

Gold
Source: Bloomberg

Gold runs higher after sluggish few weeks

We finally seem to have lift-off in the gold rally.

The next levels to watch on the upside are $1296, and then $1307, with a break of the latter suggesting a much broader rally is at hand. Below $1274, the $1264 level comes into play.

Gold chart

WTI breaks recent high

The price of WTI has pushed above the $58.07 high, with intraday dips being bought once again.

The next area to watch is $62.56, while pullbacks towards $55.00 would remain buying opportunities. 

WTI chart

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