Technical analysis: key levels for gold and crude
Gold has found the strength to rebound after a recent run of losses, while oil prices are edging back lower while remaining firmly in a broader uptrend.
Gold gets a short-term boost
Gold is rallying in early trading, but with the steady losses over the past week this rebound may well turn into another selling opportunity.
A move back towards $1280 would work off the intraday oversold position, and below this $1277 is trendline resistance from the 12 April peak.
Brent edges lower in early trading
The Brent price is struggling to hold its ground, although $70.85 is proving to be support in the near term. Below this, $70.50 is also possible support.
We have seen higher highs over the past week, so a push towards $72.00 is possible.
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