Technical analysis: key levels for gold and crude

Gold continues its sideways trading of the past few weeks, but oil prices are on the move higher again.

Gold’s sideways move continues

Gold’s tedious range continues, with Friday’s surge towards $1210 resulting in a wave of selling that drove the price towards $1194.

Buyers continue to defend this latter area and the lower end of the range, so a bounce back towards $1210 and higher cannot be ruled out. A break below $1187 opens the way to $1180 and $1160.

WTI resumes its march higher

Friday’s dip saw buyers rush in for WTI, resulting in the price leaping higher overnight.

A push back to $73.00 and then $74.00 looks likely, with dip buyers finding more support towards $69.50. A break of this level brings $66.70 and $64.00 into play.

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