Technical analysis: key levels for gold and crude

Oil continues to leap higher, but gold’s attempt to rally has been defeated once again. 

Gold rally stopped by sellers

Gold continues to try and move back to $1320, but sellers are still able to hold it in place.

However, dips below $1307 are also finding buyers. A resolution of this stand-off will likely result in dramatically increased volatility.

Brent holds steady

After touching fresh highs for the year, Brent is holding firm just below $78.

With momentum so overbought, we may see a pullback, but anything that holds above $73 will likely remain a buying opportunity. 

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