Technical analysis: key levels for gold and crude

Gold is still looking to build on its breakout earlier in the week, while WTI is continuing to consolidate.

Gold weakens after breakout

The price of gold has dropped back from the high seen earlier in the week, but the breakout remains in place.

Dip buyers defended $1294, but if this is lost a drop to the previously-broken trendline may see support materialise. A fresh bearish view requires a move back below $1285.

Gold chart

Gold chart

WTI continues in a narrow range

Stalemate prevails for WTI; dips towards $60.00 have found support, but repeated attempts to break higher have not succeeded.

A daily close above $62.60 would help to revive the bullish move, opening the way to $66.50. A more bearish view needs a close back below $60.00.

WTI chart

WTI chart


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