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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 has remained unable to push higher, while oil prices are stuck in a seemingly unbreakable range.

Oil rig
Source: Bloomberg

Gold buyers look for momentum

The past few days have seen the price fail to push on above $1220. Thus we could be seeing a bigger retracement, perhaps towards $1184 and then $1173 for gold.

Buyers will need to reignite upward momentum and recover the $1208 level, before pushing on to close above $1220 to confirm that there is more upside here.

Gold

WTI targets $54.43

The price sits in the middle of the range $52-$54.15, so there is no sign of an end to the rangebound trade that has dominated since early December.

Upside targets lie at $54.43 and then $55.63 while below the next targets, following a daily close below $52, would be $50.50 and then $49.29 for WTI.

WTI

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