Technical analysis: key levels for gold and crude

Gold is holding its ground in early trading above key support, while oil prices are quiet in early trading.

Gold steady above $1320

Gold spent Friday recovering from the sharp drop seen on Thursday, but it has managed to hold the $1320 area.

If it can push back above $1334, then another run at $1350 is possible. A move back below $1320 would be bearish in the short term and bring $1300 back into play.

Gold chart

Gold chart

WTI edges back from highs

While the WTI price has dropped back from the highs of Friday, the rally is still intact.

A close below $56.50 would bring $55.50 into play, while further gains target $59.41 once $57.85 has been cleared.

WTI chart

WTI chart


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