All trading involves risk. Losses can exceed deposits.

Technical analysis: key levels for gold and crude

Oil continues to leap higher, but gold’s attempt to rally has been defeated once again. 

All trading involves risk. Losses can exceed deposits.

Gold rally stopped by sellers

Gold continues to try and move back to $1320, but sellers are still able to hold it in place.

However, dips below $1307 are also finding buyers. A resolution of this stand-off will likely result in dramatically increased volatility.

Brent holds steady

After touching fresh highs for the year, Brent is holding firm just below $78.

With momentum so overbought, we may see a pullback, but anything that holds above $73 will likely remain a buying opportunity. 

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.