Technical analysis: key levels for gold and crude

A weaker dollar continues to drive commodity prices higher. 

Gold surges to new peak

Gold has raced higher again, creating a new higher high within its current uptrend.

Any pullback that holds above $1326 creates a new higher low, and thus represents a buying opportunity. Above $1358, the $1375 level comes into play.

Gold chart

WTI presses on higher

WTI is on the up once more. There is little in the way of resistance, until the $73.25 area is hit.

One area of possible support that remains is $62.56, with the previous higher low at $63.00 also coming into play. 

WTI chart

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