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Technical analysis: key levels for gold and crude

Commodity prices have recovered from weakness in Tuesday’s session, and are looking to move higher. 

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Gold finds buying momentum

Gold weakness early on in yesterday’s session was sharply reversed, with the price bouncing off $1337. Further gains will push back towards $1350 and then $1358.

Dips have been firmly bought over the month so far, so we wait to see if the price can clear the zone of resistance around $1350.

Gold price chart

WTI back above $67.00

Buyers came in to push the price for WTI back towards $66.58, and today it has moved beyond $67.00 once more.

Momentum remains strong, with the recent high at $67.64 the next near-term target. Dips towards the $62.00 level continue to represent buying opportunities.

WTI price chart

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