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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

Dollar strength is hobbling commodities, although both gold and oil remain within recent uptrends. 

Oil pump
Source: Bloomberg

Gold stumbles for a second day

Gold has fallen back overnight to the $1332 area, as it did yesterday.

A bounce would target the $1345 area, the highs of the week so far. Below $1332, the price will head towards $1326 and then $1313.

WTI ticks lower for now

So far, WTI has not been able to reclaim the highs seen at the beginning of the week.

However, it remains above $63.00, where it bounced at the end of last week. A decline below $62.56 would open the way to $60.74. A turn higher targets $64.82 in the first instance.

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