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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. 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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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    Technical analysis: key levels for gold and crude

    Gold has managed to break through key support, with one support level in the way of another leg lower. Meanwhile, Brent has broken through a notable resistance level, bringing about a heightened chance of further upside.

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    Brent Crude Technical analysis Commodities
    Article publication date:

    Gold breaking into bearish phase

    Gold has managed to break through the bottom of a symmetrical triangle formation, with the price currently heading into a critical support level at $1277.

    A break below that level would signify the likely beginning of a bearish phase for the metal as it goes about giving back much of the upside seen in the back end of 2018.

    Gold chart
    Gold chart

    Brent breaks through key resistance level

    Brent has managed to break through the key $62.52 resistance level, bringing an end to the bearish break seen a week ago.

    We still have the $63.75 level to contend with up ahead. However, it looks likely we will continue to grind higher following this important bullish break.

    Brent crude chart
    Brent crude chart

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    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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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