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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

Gold begins to climb again after a heavy fall, while WTI continues on its downtrend from the high of last month.

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Gold nudges higher after steep drop

After heavy losses last week, gold has managed to find support at $1246.

Having seen such a swift move lower, the sellers may pause for breath, but any rally that moves back in the direction of $1264, but fails to post a close above this level, is still a selling opportunity. The next likely areas of support come in at $1239, $1214, and then $1195.

WTI continues to drift down

WTI continues to respect a downtrend from the 30 November high ($58.90), with a move above $57.44 needed to negate the bearish short-term outlook.

Some support is possible around $55.67, and then $55.00. A reversal and close above $57.44 would suggest buyers are back, and that the $59.00 area will be tested once more.

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