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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

The steady gains in gold and oil continue, marking a significant change from the bearish outlook of the past few weeks. 

Gold mining
Source: Bloomberg

Gold pushing up

The recovery from Monday’s volatility continues for gold, with a push back above $1250. The next area to watch will be $1260, where gains stalled on Monday, with a push through this likely to see the metal test $1264 and then $1270.

As earlier in the week, it needs a daily close below $1240 to make the outlook more bearish.

WTI bouncing back after last night’s volatility

API figures last night provided a dose of volatility in WTI, but so far this morning we are seeing the upward trend off the lows of last week maintained.

A push above $44.50 would leave the way clear for a test of $45 and then $46.70. A drop back below $42.80 would be required to suggest the current bounce is at an end. 

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