Technical analysis: key levels for gold and crude

Gold prices are still unable to mount a decent rally, but oil has found renewed strength.

Gold unable to break $1205

Gold faltered at $1205 yesterday, as it has done over the past week.

A close above this level is needed to test $1214 and create a potentially more bullish outlook. Further declines will bring previous support at $1195 and $1180 into view.

WTI clears $70 resistance

WTI has cleared the area of resistance around $70.50, and is now moving higher, targeting $73.00 and $74.00.

The bullish view persists until we see a close below the $68.00 level.

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