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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

Gold’s losses continue, while oil is looking to push on after its bounce yesterday. 

Gold bars
Source: Bloomberg

Gold downtrend intact

Gold continues to be sold, with any push back towards $1280 likely to be a fresh opportunity to sell. A close above $1290 is needed to reverse the negative outlook.

Below $1264, $1246 and then $1240 come into play.

WTI fights to move higher

WTI finds support around $50, bouncing back above the post-February downtrend line. If it can move above $51.36 then the price can challenge the $53 high from the end of September.

A close below $50.50 would raise the prospect of a move back to $50, and below this the $49.40 level comes into view. 

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