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Technical analysis: key levels for gold and crude

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

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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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