Technical analysis: key levels for gold and crude

Both gold and oil suffered reversals yesterday, although they continue to hold above recent lows. 

Gold’s surge halted

A sharp reversal yesterday still leaves gold's rally off the lows of last week intact.

Coming into play as possible support levels are $1326 and then $1314, while a deeper turn lower would head to $1307 and $1295. A recovery back above $1340 would target $1346 and then $1358.

WTI generates a lower high

WTI created a lower high at $63.00, although support is possible at $60.74 and then $60.00.

Near-term resistance levels are $63.00, $64.00 and then $64.82, followed by January’s peak at $66.58.

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