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Technical analysis: key levels for gold and crude

Gold’s decline continues, while oil prices have firmed up in response to more US comments on Iran.

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Gold bears remain in charge

There seems no let-up in the current gold downtrend, and a move above $1236 is needed to suggest that any kind of near-term bounce is at hand.

Further declines will test support at $1205, then on to $1195 and $1180.

Gold chart

WTI recovers from early weakness

WTI is pushing back towards Friday’s highs of around $68.60.

A move above here brings $70.00 into play, and then possible downtrend resistance around $70.80. A move below $68.30 would suggest that a deeper retracement is in play.

WTI chart

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