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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 has bounced as risk aversion rises, and oil has continued to fall.

Gold mining
Source: Bloomberg

Gold back above $1300

The price for gold rallied sharply yesterday, putting it back above $1300.

Now it needs to move on above $1307 to regain this previously important support level. A failure to push on from here may bring out further selling pressure, targeting $1295 and then $1284.

WTI sheds more ground

WTI continues to decline, falling to its lowest level in two weeks and heading towards the $69.54 support level.

If this does not hold then $66.58 is the next big level to watch. A turn higher would target $73.00.

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