Technical analysis: key levels for gold and crude

Gold has been unable to capitalise on its bounce last week, and oil is still finding it impossible to rally.

Gold stalled below $1235

The price of gold has been unable to move on above $1235, still constrained by this resistance level.

A daily close above this reignites the bullish case and opens the way to $1260. A turn lower from $1235 targets the bottom end of the recent range, at $1214.

WTI still on a downward path

So far there is little indication that the price of WTI has stopped falling, although for the moment it is continuing to hold support around $62.56.

A daily close above $65.50 would clear a previous resistance area (and also an area of support earlier in October), but any rally up towards this level that fails to keep moving higher becomes a selling opportunity.

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