Skip to content

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

Gold has fought to hold support in recent sessions, but oil has suffered along with equity markets. 

Video poster image

Gold continues to hold vital support

Gold recovered on Friday to hold above $1326, with the week as a whole seeing a strong defence of this level.

However, sellers are returning this morning, increasing the likelihood of a retest of the $1326 and $1320 levels. Below this, $1314 and $1307 come into play. A rally will need to clear $1333, and then breach the $1350 level.

WTI under heavy pressure

WTI suffered a sharp reverse on Friday, with little sign of a rebound today.

The price has opened below the 50-day simple moving average (SMA) at $62.60, with the 100-day at $61.34 next in sight, and then down to $60.74. A rally back above $62.56 would suggest another attempt to break $66.58. 

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.

Find articles by writer