CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Technical analysis: key levels for gold and crude

Gold and Brent have started to come under pressure following recent strength. With gold hitting trendline support and Brent yet to break a key swing low, the bearish reversal picture is yet to be confirmed.

IG Analyst

Publication date : 2018-03-28T10:15:17+0100

Video poster image

Gold continues to turn lower after recent ascent

Gold has been pulling back from the key $1357 resistance area, with lower highs and lower lows coming into play.

The price has currently respected trendline support, which needs to be cleared out for further downside. However, in the near term, there is a bearish view in play as long as we do not see the price break back above $1347.

Gold price chart

Gold price chart

Brent faltering at $70.00 resistance

Brent is faltering at the crucial $70.00 mark once again this week, with the recent uptrend slowing, now that we have reached that crucial level. Above that, we have the $70.85 peak from late January to contend with.

To the downside, we need to see a break below $68.22 to bring a more bearish outlook. With that in mind, the price needs to break through $70.85 (bullish) or $68.22 (bearish) to bring a signal of where we go from here.

Brent price chart

Brent price chart

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.

Find an article

Find articles by writer

CFDS are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

This website is owned and operated by IG Bank S.A. Registered address at 42 Rue du Rhone, 1204 Geneva, authorised and regulated by FINMA.

The information on this site is not directed at residents of the United States and Belgium, or any particular country outside Switzerland and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.