All trading involves risk. Losses can exceed deposits.

Technical analysis: key levels for gold and crude

Gold has lifted itself off the lows, but the bullish strength looks temporary. Meanwhile, oil is happily moving higher. 

All trading involves risk. Losses can exceed deposits.

Gold enjoys short-term recovery

Gold has bounced off overnight lows, but given the price action of late it looks like further declines are likely.

The price will find resistance at $1261 and then at $1270. A further drop will target rising trendline support from the December 2016 lows, around $1246.

WTI shows no sign of stopping

WTI continues to rally, with yesterday’s dip to $67.64 finding buyers.

Further pullbacks may find buyers, with $72.88 as a near-term target. A move below $66.60 is needed to provide a more bearish view. 

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