Technical analysis: key levels for gold and crude

Early weakness for commodities could provide a buying opportunity, as the asset class continues its strong run.

Gold looks to new highs

The price for gold bounced off support at $1307, and then rallied to a new high in the current trend.

Thus, we look to keep entering on pullbacks, with $1313 and then $1307 as support. A break below the latter creates a new lower low and puts the rally under pressure. 

WTI falters but bullish trend still intact

WTI has taken an early bath this morning, dropping sharply, but the current uptrend remains firmly intact.

We remain bullish until the price drops back below $60. A dip that stays above this level remains another potential buying opportunity. 

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