Technical analysis: key levels for gold and crude

Gold is still unable to move higher, but the oil price is soaring after the US moved to end sanctions waivers on Iranian oil exports.

Gold still suffering

The gold price has barely moved over the past four sessions and remains under pressure after its recent losses.

Long-term support from the August lows comes into play around $1265. A rally back above $1285 provides a more bullish view while a close below $1265 would suggest a deeper retracement is at hand.

Gold price chart

Gold price chart

Brent climbs ever higher

The rally goes on here, with the Brent price at a new high for the year.

Fresh gains target $75.80, and then $86.65. A pullback towards $71.50 provides a possible buying opportunity.

Brent price chart

Brent price chart


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