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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

Both gold and oil continue to be under pressure, but there is hope that a rebound is at hand.

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Gold fights to hold support

Yesterday saw a dip to $1307 for gold, but the buyers came in to defend it.

While losses continue today, it may be that $1313 will hold, and then this may prompt a wider move higher. Momentum is oversold once again, so dip buyers may want to keep gold on their radar, given the broader uptrend over the past year.

Gold chart

WTI dips below 50-day moving average

The price lost the 50-day simple moving average (SMA) of $61.22 yesterday for the first time since August, with WTI dropping below $60.74 support as well.

Below this, the $59.00 level comes into play. A recovery above $60.74 would be a good first step, and then on to $62.56.

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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