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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 is out of favour once more, while oil’s bounce has faltered at a vital level. 

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Gold revisits important trendline

Gold is tumbling once again, dropping back to the post-December 2016 rising trendline.

If this support gives way then $1290 and $1285 come into view in the near term, and then down to $1264. A recovery requires a close above $1300, in order to set the price up for a challenge of $1307.

Gold chart

WTI falters at key level

The move higher for WTI continues here overall, but worryingly for the bulls the price hit the two crucial lines of resistance at $66.60 and then fell back.

A close above these (horizontal resistance and trendline resistance that was previously support) is needed to restore a bullish outlook. Further declines bring $64.18 into play again. 

WTI 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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