Technical analysis: key levels for gold and crude
Gold seems to be acting like a coiled spring, but oil prices continue their move upwards.
Gold faces a crunch point
The range continues to tighten for gold, suggesting an outbreak of higher volatility when the price finally breaks out.
The levels to watch are $1294 and $1288.
WTI keeps on rallying
WTI appears to have shrugged off weakness from earlier in the week, and having consolidated around $51.00 is now moving higher.
The near-term targets are $53.00 and $53.57 while a more bearish view requires a break below $51.00, the lows from earlier in the week.
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
See your opportunity ?
Seize it now. Trade over 17 000 markets on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
