Technical analysis: key levels for gold and crude

Gold has bounced as risk aversion rises, and oil has continued to fall.

Gold mining
Source: Bloomberg

Gold back above $1300

The price for gold rallied sharply yesterday, putting it back above $1300.

Now it needs to move on above $1307 to regain this previously important support level. A failure to push on from here may bring out further selling pressure, targeting $1295 and then $1284.

WTI sheds more ground

WTI continues to decline, falling to its lowest level in two weeks and heading towards the $69.54 support level.

If this does not hold then $66.58 is the next big level to watch. A turn higher would target $73.00.

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