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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

Geopolitical tensions in Iraq continue to bolster both gold and oil, with the commodities hitting new highs for the month. 

Gold
Source: Bloomberg

Gold reaches new high

Further gains in the early part of the session have seen gold push to a new high for the month. The next area to watch would be the $1314-$1316 zone, with a move above here clearing the way to $1326, $1337 and then $1360.

A move below $1280 is needed to negate the bullish outlook.

WTI targets September peak

A gap higher for WTI, due to news of clashes in northern Iraq, has seen the price hit a new high for the month. The next target is the September peak at $53.00.

Above here, the $54.00 and $55.00 levels come into play. A drop below $50.50 is needed to put a more bearish view on things. 

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