Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

Both gold and oil are finding the strength to move higher this morning. 

Video poster image

Gold rally refuses to stop

Gold’s trend higher roared back into life last week, with the price this morning moving further above the $1337 level.

Now, $1360 comes into play. Possible areas of support are $1337, and then $1326. A move below $1307 is needed to suggest the broader move higher has ended for now.

WTI keeps on moving higher

For WTI too, the steady gains continue, with a dip on Friday bringing out the buyers.

A broader pullback towards the 50-day simple moving average (SMA), currently $59.00, would take some of the heat out of the market, but also provide a possible buying opportunity. A break above last week’s high of $64.57 opens the way to fresh gains. 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by writer