Technical analysis: key levels for gold and crude

Oil appears to be on the cusp of a breakout, but gold is not looking particularly strong.

Gold sellers in control

Bulls defended the $1307 level for gold yesterday, for a second consecutive session.

We will need to see sustained strength above $1320 to suggest the buyers are back in charge, and even then the $1330 is another important area of possible resistance.

Brent testing highs

Having rallied from $63.00 at the beginning of March, the price for Brent is testing the $67.66 high from the end of February.

Above here, $69.23 and then $70.85 come into view.

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