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Technical analysis: key levels for gold and crude

Gold has recovered from its lows, but there is no sign that oil prices have finished their current decline.

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Gold surprises the bears

An impressive turnaround from gold leaves the commodity poised to challenge the $1236 resistance.

A daily close above this is needed to open the way to $1261. A failure to close above this suggests a potential move back to $1214 and the bottom end of the trading range.

Gold chart

WTI keeps on falling

Another lurch lower for oil has seen WTI hit seven-month lows.

Intraday rallies continue to be sold, so until we see a close above $65.00 any hope of a rebound is likely to be futile. Potential support comes into play around $62.56.

WTI chart

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