Technical analysis: key levels for gold and crude

Gold is heading back higher, although not by much for now, while oil is still on a downward path.

Gold unmoved by equity volatility

Gold has rallied from the lows of the week so far, although it has now come back to the $1195 area of possible resistance.

Above this, $1205 comes into view. A failure to push higher would suggest a move back towards $1180 and the lower end of the current trading range.

Brent retraces to trendline

Recent weakness has seen Brent move back to rising trendline support from the August lows.

A close below this opens the way to previous resistance at $79.54, which would now be potential support. Below this $75.00 comes into play. A close above $85.00 is needed to suggest that the reversal has run its course.

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