Technical analysis: key levels for gold and crude

Both gold and oil are looking to rally after recent declines. 

Gold aims for a recovery

Gold has managed to bounce back above $1337, with the rising 100-period simple moving average (SMA) on the four-hour chart ($1335) acting as support.

Further gains back above $1350 would target the peak from last week at $1366. Below $1335, the $1326 and $1307 levels come into play. 

Gold chart

WTI dip buyers emerge

Losses for WTI over the past three sessions have carried the price below $64.00.

However, it would take a move below $62.78 to create a new lower low. Until this happens, the buyers still have the advantage. Upside targets include $64.82, and then $66.58. 

WTI chart

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