Technical analysis: key levels for gold and crude
Gold’s break lower has run into support, though rallies have also failed to last longer than a few hours.
Gold creates a new range
Having broken lower earlier in the week, the price of gold has managed to hold $1277.
Rallies towards $1285, however, have met with selling, so until one of these levels breaks a new range is in place.
WTI climbs off the lows
WTI held the $52.00 level in the middle of the week, and since then it has managed to rally.
Further gains target $54.60, the highs from last week, and then the price moves on to challenge $59.40 and the 100-day simple moving average (SMA) at $59.73.
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