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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Technical analysis: key levels for gold and crude

Gold bounced off the lows yesterday, while oil has recovered ahead of today’s OPEC news. 

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Gold finds some support

Buyers have come in to defend the $1264 level, so we may see a rebound for gold, at least in the short term.

The first near-term target to watch is $1284. A close below $1264 opens the way to $1246 and $1239.

Gold chart

WTI clambers off the lows

WTI has climbed all week, with buyers defending the $64.00 level on Tuesday and Thursday.

Now, if the $66.60 resistance level can be broken, the price would target trendline resistance (previously support) at $67.40. A move below $64.00 would open the way to $61.84. 

WTI chart

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