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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 on the way lower, but oil shows no sign of stopping.

Oil rig
Source: Bloomberg

Gold takes a turn lower

The price for gold finally looks to have broken the trading range, pushing down to support around $1180. A close below this opens the way to $1160.

It looks like the downtrend has resumed, with the repeated failure to break $1214 a signal that the sellers were regaining control.

Gold price chart

WTI pushes higher

The uptrend from the August lows remains intact for WTI, although rallies above $72.40 have proved fleeting this week.

A retracement towards $70.00 would find support at the August rising trendline. Upside targets lie at $73.00 and $74.00.

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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