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Technical analysis: key levels for gold and crude

Gold continues its sideways trading of the past few weeks, but oil prices are on the move higher again.

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Gold’s sideways move continues

Gold’s tedious range continues, with Friday’s surge towards $1210 resulting in a wave of selling that drove the price towards $1194.

Buyers continue to defend this latter area and the lower end of the range, so a bounce back towards $1210 and higher cannot be ruled out. A break below $1187 opens the way to $1180 and $1160.

WTI resumes its march higher

Friday’s dip saw buyers rush in for WTI, resulting in the price leaping higher overnight.

A push back to $73.00 and then $74.00 looks likely, with dip buyers finding more support towards $69.50. A break of this level brings $66.70 and $64.00 into play.

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