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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Technical analysis: key levels for gold and crude

Crude breaks below a key level, with a heightened risk of further downside as a result. Meanwhile, gold is attempting to regain ground following a fall into a crucial support level. 

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Gold shows potential for short-term recovery

Gold has once again failed to break below the critical $1236 mark, with the price starting to push higher yet again.

The ability to push above the $1245 mark is going to be key in providing a short-term bullish outlook or not. Essentially unless we see a break below the $1236 level, there is always going to be a strong chance of a rebound for gold.

Gold chart

Brent consolidating after sharp decline

Brent is attempting to regain ground, following on from a sharp deterioration in the price yesterday.

The break below $72.35 raises the possibility of a wider sell-off. However, there is also a good chance that we move into a retracement mode. Thus, further downside looks likely unlikely unless we see a break above $75.87.

Brent chart

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