Technical analysis: key levels for gold and crude

Gold is still fighting to hold around $1170, while the oil price has returned to key resistance. 

Source: Bloomberg

Gold eyes $1200

Continued US dollar strength means that gold has failed to rally throughout the week, although for now it refuses to move below $1160.

The $1180 mark is the level to watch on the upside, with a break above here targeting $1200. Meanwhile a drop through $1160 would head towards $11130 and then $1115.

WTI could push back to $48.50

A bounce in the second half of the session took the price back to $52, which is still the key resistance level to watch for WTI.

A daily close above here targets the $54 area, while a failure to push on above this level would suggest a push back to $49.50 and then $48.50.

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