Technical analysis: key levels for gold and crude

Gold has broken higher, while oil has dropped back from the highs of yesterday but is now pushing higher once again.

Gold puts an end to its consolidation

The price of gold has broken out from the range that has dominated over the past week, moving above $1326.

Fresh targets now come into view at $1336, $1358 and then $1375. Dips should continue to find buyers, although a move below $1307 may be a bearish development. 

Gold price chart

WTI sees a pullback, but a bullish trend remains

WTI has dipped towards the $63.00 level, pushing stochastics into oversold territory on the hourly chart.

Further support is possible at $62.56, while a continuation of gains would see the price head back to $64.50. 

Oil price chart

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