Technical analysis: key levels for gold and crude
Gold continues its upward move, while oil prices are edging back for a second day.
Gold recovers from overnight weakness
Gold dropped sharply yesterday but the dip buyers came in to rescue the uptrend, with $1304 providing support.
Fresh gains target $1320 and then on to $1326. The bullish view remains unless the price moves below $1300.
WTI risking deep retracement
The uptrend of WTI is intact, but it will need to turn higher soon to avoid breaking through the lower bound of the rising wedge formation. If this occurs, then $56.00 comes into play as a possible target.
A fresh move higher above $60.30 targets the top of the rising wedge around $61.50.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Speculate on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
Live prices on most popular markets
You might be interested in…
Find out what charges your trades could incur with our transparent fee structure.
Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.
Stay on top of upcoming market-moving events with our customisable economic calendar.