CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Technical analysis: key levels for gold and crude

Gold falls into notable support following a recent rebound, while Brent is heading back into a crucial support level.

Gold falls back into prominent support level

Gold has been in an upward retracement mode, with the gains seen over the course of last week looking like a precursor to another breakdown before long.

Whether or not we see further upside remains to be seen, but with the price falling into the $1278 low from Monday, there is a growing chance that the selling will soon resume once again. As such, watch out for whether we rebound or drop below this level, where a break through $1286 is required to bring about a more bullish view.

Brent rebounds from confluence of support

Brent has managed to rebound from a confluence of support between trendline and horizontal lines at around $70.49.

We are now in a pullback phase, with the price heading back towards that same level. Thus the key here is whether we see a break below $70.49 or we create a higher low to begin building a more bullish phase from here.


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