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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 prices continue to fall, with Brent approaching a key level that could also provide a bearish breakdown.

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Gold heading lower once more

Gold looks set for further downside, following on from a period of weakness that has unwound a month’s worth of gains in less than two weeks. The break below $1303 was the first major bearish signal, and we are now approaching the crucial $1277 support level.

A bearish outlook remains for the short term, with continued lower highs key to maintaining the trend. Thus, a rally through the $1297 would be required to negate the bearish outlook.

Gold chart
Gold chart

Brent heading back towards crucial support level

Brent is weakening once again, with the price moving back towards the crucial $64.47-$64.59 support zone.

A break below there would pave the way for a more bearish phase, while a rally above the most recent swing high would provide a more bullish view.

Brent chart
Brent chart

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