Technical analysis: key levels for gold and crude
Gold has rallied but needs to break key resistance, while oil prices are struggling despite recovering from yesterday’s lows.
Gold pushes towards resistance
Despite steady gains over the past three days the price of gold has yet to clear trendline resistance from the February highs.
A close above $1312 would ignite this move, and then open the way to $1326 and $1347. Failure to move on above $1310 would raise the prospect of a move back to $1285.
WTI stronger in early trading
Another higher low yesterday confirms WTI's current uptrend, but the price now needs to push on above $64.50 to maintain the progress seen over the past week.
A close below $63.60 would then open the way to $63.00 and $61.50.
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