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.

Gold and Brent crude rally towards key resistance

​Gold and Brent crude look set for another push higher, with both markets regaining lost ground of late.

Gold rises back towards key resistance level

Gold has been on the rise following a 61.8% retracement yesterday. The price of gold has been largely consolidating of late, but the wider April uptrend does highlight the possibility of us pushing higher from here. Nonetheless, it makes sense to watch out for a break through $1800 resistance to bring a bullish breakout signal. Until then, there is a chance we continue this consolidation phase by drifting lower into another higher low.

Brent crude regaining lost ground

Brent crude has been on the rise of late, with the market managing to break through the crucial 76.4% Fibonacci resistance level. That highlights a growing possibility that we will ultimately resolve with a break up through $71.13 resistance. For today, we are challenging the $69.73 level, which dates back to mid-March. While we are yet to see price break through that level, the subsequent pullback is likely to be a retracement. As such, a bullish outlook holds unless we see a break back below the $66.03 level.

Related articles

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.


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.