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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 heading to the top end of its current trading range, while oil has steadied after its rally. 

Gold
Source: Bloomberg

Gold stuck in a range

The bounce in gold is heading back towards the crucial $1284 level, but for now we remain stuck in the trading range of the past two weeks.

A break above this level is needed to signal a broader bullish move. Any weakness suggests a return to the $1264 support zone.

Gold chart

WTI pauses after run higher

WTI’s parabolic move has slowed somewhat, with a potential move to $55.67, if the downside gathers traction.

The bullish trend remains intact, unless we see a daily close below $54.00.

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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