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

Technical analysis: key levels for gold and crude

Gold shows no sign of stopping, but oil prices have run out of momentum at key resistance.

Oil
Source: Bloomberg

Gold breaking towards $1375

Dips are in short supply here, as momentum and news events continue to drive gold higher.

A break of resistance at $1358 sets gold up for a push to $1375. Dips that hold above $1300 should continue to be regarded as buying opportunities.

WTI is challenging the downtrend

WTI has faltered around $49.40, but a drop back is likely to find support around $48.50 and then $47.50.

A close above $49.40 would open the way to $50.50 and then $51.00, with the latter resulting in a challenge of the downtrend line off the February highs. 

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