Technical analysis: key levels for gold and crude

Commodities are broadly higher thanks to a weaker dollar, with oil looking to head back to recent highs.

Gold benefits from weaker dollar

Gold's recovery from last week’s lows continues, with the price now needing to break $1264 to maintain upward progress.

However, Friday’s rally in that direction was hit by selling, so it could be a difficult one for the bulls. If the rally falters again it is likely that we will see a return to $1246 and then $1240.

WTI pushes on towards $59.00

WTI's price has turned higher and looks to be heading back towards the $59.00 resistance area.

Last week saw a dip to $56.00 that was met by buying, so the $55.67-$59.00 trading range remains in effect.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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 and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.