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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 looks to maintain its upward progress, while oil remains in a tight trading range. 

Gold
Source: Bloomberg

Gold retains push from early this month

Gold broke above $1284 overnight, although a pullback has seen it fall back below. However, the steady push higher from the 6 November lows remains intact, and would remain so unless the price drops back below $1270.

Above $1284, the $1290 level is in sight, followed by $1295 and then $1307. 

Gold chart

WTI establishes range

WTI's Wednesday’s bounce from $56.58, and then the drop back from $58.07 has established the current range.

We wait to see whether the price will break to new highs for the year, or whether a bigger dip is on the cards.

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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