Technical analysis: key levels for gold and crude

The gold bounce is out of steam this morning, but oil is still on the up.

Gold falters at $1360

The gold rally last week suffered a knock trying to break through $1360.

The failure to recover this level has brought about a test of the $1345 support area. Below this, $1326, $1314 and $1307 come into play. A close above $1360 suggests another attempt to break $1366.

WTI moves above 50-day moving average

The price for WTI has recovered the 50-day simple moving average (SMA) of $61.60, and is now looking to test $62.56.

Above here, $66.58 comes into play. A turn lower targets $60.74, $60.01 and then $58.07.

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