Technical analysis: key levels for gold and crude

Gold has recovered from its lows, but there is no sign that oil prices have finished their current decline.

Gold surprises the bears

An impressive turnaround from gold leaves the commodity poised to challenge the $1236 resistance.

A daily close above this is needed to open the way to $1261. A failure to close above this suggests a potential move back to $1214 and the bottom end of the trading range.

WTI keeps on falling

Another lurch lower for oil has seen WTI hit seven-month lows.

Intraday rallies continue to be sold, so until we see a close above $65.00 any hope of a rebound is likely to be futile. Potential support comes into play around $62.56.

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