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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 is moving lower once again, while oil has also slipped below a key support level.

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Gold still heading lower

The plunge in gold goes on, as the price drops below $1195 and heads towards $1180 as the next significant area of support.

Rebounds have been short-lived, and the bearish view persists unless we see a move back above $1214.

WTI loses $66.00

The bears have taken control of WTI, pushing the price back below $66.00 and suggesting a deeper retracement towards Monday’s lows at $65.21.

From here, the $64.00 and $62.56 levels come into play as possible support. A rally above $68.00 is needed to negate the sequence of falling highs that have been in place since the end of June.

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