Technical analysis: key levels for gold and crude

Gold has seen some buying pressure, while oil continues to push lower.

Gold holds support

The price for gold bounced off the 200-day simple moving average (SMA) of $1305, but it needs to clear the $1320 level to break the current downtrend and confirm fresh bullish momentum.

The range continues to hold, with $1308 as support, so a move higher targets $1314, then $1326.

WTI drifts lower

The price continues in the range between $66.60 and then $69.54 for WTI, but lower highs have been seen over the past two weeks.

A break of the $67.00 zone is needed to confirm fresh bearish momentum.

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