CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Gold and Brent diverge as crude prices head into key support

Gold and Brent diverge, with gold showing signs of a bullish breakout, while Brent heads towards a key support level.

Gold rallies into resistance, signalling potential bullish breakout

Gold pushed higher once more yesterday, after a failed attempt to break below the $1401 support level. The creation of a tentative new high points towards a possible bullish breakout coming into play, following a period of consolidation.

Given the wider bullish trend coming into this phase, an upside breakout always seemed likely. With this rally providing a change from the recent trend of lower high, watch for a bullish pattern to emerge. This bullish view would be confirmed with a break through $1439.

Brent declines after smaller-than-expected inventories drawdown

Brent has continued its recent downtrend, with yesterday’s smaller-than-expected drawdown in US stocks failing to lift prices. This takes prices below both the 200-day simple moving average (SMA) and 76.4% retracement.

A break below the $62.04 support level would bring about a wider bearish picture, and until then we will be watching for whether the market can continue this short-term downtrend. Watch for a rise through $64.99 to bring about a bullish view once again.


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.

React to volatility on commodity markets

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

See opportunity on a commodity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See opportunity on a commodity?

Don’t miss your chance. Upgrade to a live account to take advantage.

  • Analyse and deal seamlessly on fast, intuitive charts
  • Get spreads from just 0.3 points on Spot Gold
  • See and react to breaking news in-platform

See opportunity on a commodity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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.