Skip to content

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

While gold has at least held a vital trendline, it is stuck below $1300. Oil meanwhile has managed to hold support all week, and is trying to push higher. 

Video poster image

Gold stuck in a tight range

While gold continues to hold the rising trendline from December 2016, gains above $1300 this week have proved impossible to sustain.

However, dips towards the trendline have also found buyers. A break out of the $1290-$1300 range is needed to determine the future course from here.

WTI fights to rally after holding the lows

The price continues to hold the lows of the week, building a base for WTI that saw a rally develop yesterday.

Now it needs to move above the post-September rising trendline, which would suggest a move above $66.50. From here, the 31 May peak at $68.60 comes into view. A close below $64.18 negates this more bullish view. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer