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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 finally shaken itself from its torpor, while oil has recovered from the lows of last week.

Gold mining
Source: Bloomberg

Gold eyes new gains

The surge at the end of last week saw gold spike to the highest level in a month. A close above $1295 would open the way to $1307 and then $1326.

Having maintained a steady sequence of higher lows since early November, it would take a close below $1275 to create a new lower low.

WTI looks to maintain momentum

The bounce from $55.00 gave dip-buyers a chance to hop on board the current uptrend for WTI. Although, if the price fails to push on back to $58.00, then we have a new lower high, a potentially bearish situation.

However, we would need to see a drop below $55.00 to create a new lower low. Below $55.00, and potential areas of support will be $54.05 and $52.93. Above $58.00, the price heads towards $62.56.

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