Technical analysis: key levels for gold and crude

Oil is seeing some selling pressure this morning, while gold is attempting to recover some ground lost on Friday. 

Gold stuck around $1320

Gold defended the 200-day simple moving average (SMA) at $1307, and the $1308 level last week, but on Friday an attempt to hold $1326 was defeated.

A daily close above this level would signal a move to $1337 and higher. Alternatively, a further drop would bring the $1308 zone (200-day SMA) into play.

WTI edges lower

A shallow retracement has seen WTI shed some of the ground gained at the end of last week.

Possible areas of support come in at $69.54 and then $66.58.

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