Skip to content

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 and oil are both on the up this morning, recovering more of the ground lost in recent sessions. 

Gold bars
Source: Bloomberg

Gold makes further gains

Dollar weakness continues to propel gold higher, with the price now testing the $1290 area. A close above here would then signal a move towards $1314, putting a further dent in the downtrend from the September highs.

A reversal would test $1260 and then on down to $1240. 

Brent aims to push higher

Brent rebounded off the lows yesterday, and moved back above $55, meaning that the bulls will now be looking to take out the $57 high from last week.

A success here would open the way to the September peak at $59, while a drop below $55 opens the path to $54, and the 50-day simple moving average (SMA) at $53.81.

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.

Find articles by writer