Skip to content

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

Oil is seeing some selling pressure this morning, while gold is attempting to recover some ground lost on Friday. 

Video poster image

Gold stuck around $1320

Gold defended the 200-day simple moving average (SMA) at $1307, and the $1308 level last week, but on Friday an attempt to hold $1326 was defeated.

A daily close above this level would signal a move to $1337 and higher. Alternatively, a further drop would bring the $1308 zone (200-day SMA) into play.

Gold chart

WTI edges lower

A shallow retracement has seen WTI shed some of the ground gained at the end of last week.

Possible areas of support come in at $69.54 and then $66.58.

WTI chart

This information has been prepared by IG, a trading name of IG 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. 

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.

Find articles by writer