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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 managed to hold vital support, while oil has continued to drift sideways.

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Gold recovers from its losses, holds $1264

Gold explored the area below $1264, but has held the level so far. Further gains would head to $1270, previously key support.

The next areas to watch on the upside are $1275, and then $1284. There appears to be significant strength around $1264, given the repeated bounces off this level, but a break would open the way to $1246, and then down to $1240. 

WTI drifts along above support

WTI continues to bounce along, just above the $57.00 support level, leaving the price in a range between $57.00, and the recent high at $59.00.

We wait to see whether a breakout develops from either of these levels. Above $59.00, the $62.56 high from 2015 comes into play, and below $57.00, $55.67 and $54.00 are potential areas of support. 

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