Skip to content

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

Oil is still in a steady uptrend despite yesterday’s losses, but gold remains stuck in a range.

Video poster image

Gold heading for another test of range top

Gold is pushing back to the top end of the trading range that has prevailed since the end of August.

Rallies to $1214 tend to run out of steam, so we will see if this one is any different. If it does turn lower then the mid-range $1195 level and then the $1190 area come in as support. A breakout from $1214 or $1190 is needed to suggest the beginning of a wider move.

Gold chart

WTI still in uptrend

A modest move lower yesterday leaves WTI well within the uptrend from the August lows.

Support may come into the fray around $69.00, with the lows of the past week around $68.50 below this. A move above $71.50 opens the way to $73.00 and higher.

WTI chart

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer