Technical analysis: key levels for gold and crude
Gold prices are continuing to make modest gains, while WTI looks to be creating a new higher low.
Gold still on the up
Gold continues to gain, with the overnight pullback being followed up by buying that has seen the price move back above $1280.
Fresh gains target $1285, and then on to $1295. A close below $1273 is needed to reverse the more bullish view.
WTI drops back to higher low
WTI has fallen back from the highs for the year, but a new higher low on the four-hour chart has been created.
This may provide another buying opportunity, with a push targeting $66.60 and higher. Fresh declines would head towards $63.35, and then to $62.56.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Speculate on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
1In the case of all DFBs, there is a fixed expiry at some point in the future.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
