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CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

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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