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Technical analysis: key levels for gold and crude

Gold and oil are off the recent highs, but further gains should be expected. 

All trading involves risk. Losses can exceed deposits.

Gold’s rally intact

The rally has stalled just below $1358, but pullbacks for gold should continue to find buyers.

Upside targets lie around $1358, $1361, and then $1366. Areas of possible support come in at $1346, $1337 and then $1326. The bullish view remains unless the price breaks back below $1320.

WTI eyes fresh highs

Since hitting its recent peak at $66.57, WTI has consolidated above $65.50.

Further gains above $66.58 put the price at a new high for the year. Support is possible around $64.82 and then $64.18.

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