Technical analysis: key levels for gold and crude

Gold is heading to the top end of its current trading range, while oil has steadied after its rally. 

Gold
Source: Bloomberg

Gold stuck in a range

The bounce in gold is heading back towards the crucial $1284 level, but for now we remain stuck in the trading range of the past two weeks.

A break above this level is needed to signal a broader bullish move. Any weakness suggests a return to the $1264 support zone.

WTI pauses after run higher

WTI’s parabolic move has slowed somewhat, with a potential move to $55.67, if the downside gathers traction.

The bullish trend remains intact, unless we see a daily close below $54.00.

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