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Technical analysis: key levels for gold and crude

Gold and oil have both dropped back to recent support, as commodities suffer from a stronger dollar.

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Commodity market West Texas Intermediate Gold Technical analysis
IG Analyst  
Publication date:

Gold holding $1310

The gold price continues to hold the $1310 zone of support, raising the prospect of a move back towards $1326.

A close below $1310 raises the prospect of a test of $1310 and then the $1280 area.

Gold price chart
Gold price chart

WTI back to recent support

While the WTI price has been unable to hold on to the $55.00 area, it has dropped back into the zone of support around $53.70 that has held for the past four sessions.

If buyers step in here, then a move back towards $55.80 is in the offing.

WTI chart
WTI chart

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