Technical analysis: key levels for gold and crude

The strong end to last week for gold has carried over into the early part of this week, but oil has fallen back after gapping up over the weekend.

Gold’s breakout continues

The price for gold continues to punch its way towards the $1236 area, which acted as both support and resistance during the summer.

Dips towards $1214 have found buyers for the time being, with $1205 and $1199 as additional potential support.

WTI surrenders early gains

WTI gapped higher this morning, but we are seeing some weakness as the session continues.

Further declines target the $70.34 level, and then below this $67.24 comes into view. Above $72.20, the $72.88 level comes in as potential resistance.

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