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Technical analysis: key levels for gold and crude

Gold is on the up again, while oil is still under pressure.

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Gold aims to build on last week’s bounce

Last week’s gold rebound was a classic moment of technical analysis.

The price hit post-December 2015 trendline support, and bounced strongly. A close above $1261 would open the way to $1285 and $1294. A drop targets the trendline once more, and then down to $1236.

WTI continues to drift lower

Friday saw the WTI price post a new low for the week, and it looks like a lower high has been created as well.

A move above $72.60 would negate the short-term bearish view, while below $70.85 the next area of support would likely be $69.26.

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