Technical analysis: key levels for gold and crude

Gold’s decline continues, while oil prices have firmed up in response to more US comments on Iran.

Gold bears remain in charge

There seems no let-up in the current gold downtrend, and a move above $1236 is needed to suggest that any kind of near-term bounce is at hand.

Further declines will test support at $1205, then on to $1195 and $1180.

WTI recovers from early weakness

WTI is pushing back towards Friday’s highs of around $68.60.

A move above here brings $70.00 into play, and then possible downtrend resistance around $70.80. A move below $68.30 would suggest that a deeper retracement is in play.

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