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

Gold’s steep drop yesterday threatens to nullify the recent rally, while oil is continuing to edge lower for the time being. 

Video poster image

Gold looks to recover from swift drop

Another drop for gold saw it fall to $1270, the lows of mid-November. These are holding for now, and dip buyers are stepping in so far this morning.

Upside targets come in at $1284, and then $1295. While below $1270, the $1264 area comes into play once more. 

Gold chart

WTI presses lower after recent high

WTI has dutifully followed a downward trendline since the peak at $59.00 earlier in the week, so we need to see a move above $58.00 to break this trendline resistance.

Over the past few days, support has been found at around $57.00, so if this goes we look to $55.67, and then $55.00. 

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