Technical analysis: key levels for gold and crude

Gold is on the up again, while oil is still under pressure.

Gold aims to build on last week’s bounce

Last week’s gold rebound was a classic moment of technical analysis.

The price hit post-December 2015 trendline support, and bounced strongly. A close above $1261 would open the way to $1285 and $1294. A drop targets the trendline once more, and then down to $1236.

WTI continues to drift lower

Friday saw the WTI price post a new low for the week, and it looks like a lower high has been created as well.

A move above $72.60 would negate the short-term bearish view, while below $70.85 the next area of support would likely be $69.26.

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