Technical analysis: key levels for gold and crude

A stronger dollar continues to hit commodity prices, with gold faltering and oil moving back below $73.

Future of gold bounce looks uncertain

Gold’s bounce back from last week’s lows has taken a knock, but it has managed to hold the $1250 area over the past 24 hours.

A renewed move higher targets $1256 and then $1266, the highs from Monday. A move below $1250 would head back towards $1236.

WTI falls back below $73

WTI looks to be turning lower once again, having faltered around $73.00.

Below $71.50, the price heads towards $70.84, and then on down to $69.23. A turn higher above $73.00 restores the bullish short-term outlook. 

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