Technical analysis: key levels for gold and crude

Commodities have been knocked back, but look to be recovering this morning. 

Gold bounces from key support

Gold has bounced from $1326, and is now attempting to break above $1337.

Above here, $1343 comes into play, and then $1358. A failure to push higher will suggest a retest of $1326, and then on to the $1307-$1314 area.

WTI dips but recovers

The dip below, and then recovery above $63.00, sends a positive message for WTI.

We may well see the price move back above $64.50 and then challenge $64.82, the Monday high. A turn lower below $63.00 will see $62.56, and then $60.74 as possible support. 

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.