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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

Gold prices are on the rise once again following a 76.4% retracement. Meanwhile, Brent is starting to stabilise after a drop into a key support level.

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Gold turning higher from 76.4% retracement

Gold is pushing higher after a retracement into the 76.4% Fibonacci support level.

This points towards a continuation of the recent uptrend, with a push through $1239 required to continue that trend. With that in mind, a bullish view remains in place unless we see the price break below the $1225 swing low.

Gold price chart

Brent stabilises at key support

Brent has managed to stabilise at the key $75.57 swing low, with the price starting to regain some ground. That could simply be a retracement, yet further upside looks likely from here.

As such, look for further short-term gains, or else a continuation of the downtrend with a break below $75.57.

Brent chart

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