Technical analysis: key levels for gold and crude
Gold has waken up again, soaring once more towards last April’s highs, while oil prices are contemplating a fresh break higher.
Gold leaps higher
The uptrend has roared into life again, as gold leaps towards $1365 and the highs of almost a year ago.
The commodity has moved in a staircase fashion since August, leaping higher, then consolidating and then moving up once more. Thus, despite the swiftness of the move over the past few days, the commodity may keep leaping upwards. Short-term support may be found around $1335.
WTI eyes further gains
Support may be at $55.60 and then $54.70 in any short-term move lower, but WTI's overall move upwards is still firmly intact. A breakout requires a move above $56.70.
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