Technical analysis: key levels for gold and crude
Gold and oil both start the week with gains.
Gold still clawing back lost ground
Gold's recovery from Thursday’s sharp reverse goes on, as a dip to $1298 finds buyers, creating a higher low.
Above $1306 the price targets $1312, and then from there $1326 and $1347. A move back below $1292 is needed to suggest a more bearish view.
WTI looks to build on recent rally
A new higher high from Friday’s session helps to reinforce the current uptrend for WTI.
However, a bearish wedge is also potentially in play, with a close below $58.00 providing a possible catalyst for fresh downside. Above $59.40 the top end of the wedge at $61.15 comes into view.
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