Technical analysis: key levels for gold and crude

The equity sell-off has not been felt in commodities, with both gold and oil relatively unaffected.

Gold looks to hold support

Gold has moved back towards the key $1326 level, which acted as strong support in early January.

If this holds, a move back to $1337, and then $1358 and $1367, is possible. Meanwhile, below $1326, the $1313 and $1307 levels come into play.

Gold chart

WTI a haven of calm

The volatility seen elsewhere has been noticeably absent from WTI.

Indeed, the price did not even test last week’s lows (around $63.61). Further gains would see $66.00, and then $66.58 tested. A close below $63.61 would open the way to $62.56. 

WTI chart

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