Technical analysis: key levels for gold and crude
Gold continues to race higher, while oil prices are starting to move upwards after holding key support.
Gold soars above $1300
The gold rally continues, and it looks like the bulls are firmly in charge.
Upside targets above $1310 bring $1325 and $1365 into view. Dips towards $1300 and $1295 may find buyers.
WTI clings on to $52.00
Once again, WTI bulls have defended the $52.00 level.
Now the price needs to clear $53.80 to provide a firm breakout. This would then target $55.00. A close below $50.83, the 50-day simple moving average (SMA), would signal a deeper retracement is at hand. At present, so long as $52.00 holds, then the buyers are in charge.
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