Technical analysis: key levels for gold and crude

Oil and gold are both recovering, having fought hard during the week to hold support.

Gold back on the front foot

The gold price has rallied off the lows, with the rally taking it back to the $1315 area that has stymied progress over the past week.

Further gains target $1326, with a breakout above here creating a new higher high and targeting the $1360 zone.

Gold chart

Gold chart

WTI stages a recovery

There was some hefty volatility for WTI yesterday, but the swift dips down towards $53.50 and below found buyers, maintaining the upward push of the week thus far.

Now, while the price is dropping back from the overnight high, the overall uptrend is intact. Further gains will target the $56.00 high, and then above here the price will have broken higher. The bullish view remains unless we see a close back below $52.00.

WTI chart

WTI chart


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