All trading involves risk. Losses can exceed deposits.

Technical analysis: key levels for gold and crude

Gold has finally found some real upward momentum, while the oil rally has surged back to life.

All trading involves risk. Losses can exceed deposits.
Gold
Source: Bloomberg

Gold runs higher after sluggish few weeks

We finally seem to have lift-off in the gold rally.

The next levels to watch on the upside are $1296, and then $1307, with a break of the latter suggesting a much broader rally is at hand. Below $1274, the $1264 level comes into play.

WTI breaks recent high

The price of WTI has pushed above the $58.07 high, with intraday dips being bought once again.

The next area to watch is $62.56, while pullbacks towards $55.00 would remain buying opportunities. 

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.