Technical analysis: key levels for gold and crude
Gold’s leap higher has finally found some resistance, but it may be only temporary. Meanwhile, oil is still struggling to break out of a narrow range.
Gold’s leap higher finally checked
The price of gold encountered resistance around $1326, but the upward move remains firmly in place.
A break above $1326 still targets $1365. Near-term support is found around $1310 and then $1285.
WTI still stuck in a range
A close above the $54-$55 zone still eludes the WTI price, which remains in the $51-$55 range established earlier in the month.
A break higher from either $55 or lower from $51 is needed to establish a longer-term directional bias.
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