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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

Commodities are broadly higher this morning, with gold in particular worth watching, as it tests an important level.

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Gold tests key resistance

Gold continues to move higher, and is now testing the $1264 area.

If it can manage a daily close above this level, then $1295 and $1307 come into play. A failure to move above resistance is a bearish development, and would indicate that $1246 and $1238 are now the mostly likely destinations.

WTI pushes on towards $59.00

Yesterday’s indecisive session for WTI still leaves the buyers in charge, with the $55.67 to $59.00 range still intact.

Buyers have been keeping the price up each time it heads towards $57.00, while sellers, for now, are minded to enter around $58.00. This tightening range suggests increased volatility is potentially on the way.

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