Technical analysis: key levels for gold and crude

Gold has been given new momentum by news of fresh Chinese tariffs, but oil remains under pressure. 

Gold surges on trade war news

Fresh China tariffs have sent gold flying, pushing back towards Monday’s high at $1345.

Above here, $1355 comes into view. Further losses below $1333 would bring into question the rising trend from last week’s low.

WTI aims to hold 50-day SMA

WTI continues to fight to hold the 50-day simple moving average (SMA) of $62.78.

A bounce from here would target the recent high at $66.58. Further declines bring $60.74 and then $60.00 into view. A move below $59.90 would endanger the series of higher lows seen since the summer. 

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