Technical analysis: key levels for gold and crude

Gold bounced off the lows yesterday, while oil has recovered ahead of today’s OPEC news. 

Gold finds some support

Buyers have come in to defend the $1264 level, so we may see a rebound for gold, at least in the short term.

The first near-term target to watch is $1284. A close below $1264 opens the way to $1246 and $1239.

WTI clambers off the lows

WTI has climbed all week, with buyers defending the $64.00 level on Tuesday and Thursday.

Now, if the $66.60 resistance level can be broken, the price would target trendline resistance (previously support) at $67.40. A move below $64.00 would open the way to $61.84. 

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