Technical analysis: key levels for gold and crude

Gold surged into the close yesterday, but oil prices remain under pressure.

Buyers push gold higher

Strong buying came in to push gold well off the lows by the end of the day.

The price continues to hold at $1313, so we may see a push back in the direction of the 50-day simple moving average (SMA) at $1326, and then $1337 and $1346.

WTI in decline

While the price finished off the lows, we have seen more declines for WTI, testing support at $60.74.

Below this, $59.02 comes in as potential support, with $57.93. A turn higher would head back to $62.56, and then the highs from the beginning of the week at $64.18.

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