Technical analysis: key levels for gold and crude

While gold remains stuck in a seemingly interminable trading range, oil’s march higher goes on.

Gold still stranded in trading range

There is little change to the overall picture for gold here.

The trading range remains in place, and the bounce from the lower bound continues, with upside targets of $1205 and $1214 as the areas to watch.

WTI uptrends in place

WTI has recovered from yesterday’s drop, and continues on its way towards $73.

Rising trendline support from 18 September continues to provide the foundation for further gains, while a break below this near-term support would see a push in the direction of the $70 level and the rising trendline from the August lows.

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