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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. 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 financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

Gold continues to be hit by selling, while oil is aiming to consolidate its recent move higher.

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Gold falters again

Gold is under pressure once again, with the price testing the 50-day simple moving average (SMA) at $1333. Further declines will challenge the bottom end of the current range, bringing $1326 and then $1314 into view.

With momentum oversold on the four-hour chart, a rebound may develop in the direction of $1338 and then $1346, but a longer-term rally requires a move above $1360 and then a daily close above $1366.

Gold price chart

WTI consolidates after fresh highs

There was little stopping WTI last week, but the price has dropped back from its recent highs.

However, buyers have stepped in to hold the price above $68.00. A move below $67.00 would suggest a test of $66.58 and then $65.50.

WTI price chart

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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