Technical analysis: key levels for gold and crude

Gold and oil are both moving higher, with their rising trends still intact. 

Gold targets $1307

Gold continues to move higher after holding the rising trendline earlier in the week.

Further gains will target the vital $1307 level, which has been previous support but is now significant resistance. Any move that fails to break this level suggests a lower high has been created.

Brent turns higher, restoring bullish view

It looks like the buyers may have turned Brent around, pushing the price off the $74.50 support zone.

The next job is the downtrend line from the May highs, which would suggest resistance coming into play around $77.50. A close below $74.00 is needed to suggest a more bearish view. 

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