Technical analysis: key levels for gold and crude

Both gold and oil have rallied off the lows, although they have yet to signal that a change in trend is at hand. 

Gold looks to test recent trendline

The price has rebounded from $1314 yet again, so we look for gold to test the descending trendline from the March highs.

Above this, the $1330 level comes into view.

WTI hits new level to break

WTI has rallied off the lows, but now has to break the $62 level.

Above here, $63 and $64 come into play. A turn lower targets $60 once again.

The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.