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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

Gold has lifted itself off the lows, but the bullish strength looks temporary. Meanwhile, oil is happily moving higher. 

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Gold enjoys short-term recovery

Gold has bounced off overnight lows, but given the price action of late it looks like further declines are likely.

The price will find resistance at $1261 and then at $1270. A further drop will target rising trendline support from the December 2016 lows, around $1246.

Gold chart

WTI shows no sign of stopping

WTI continues to rally, with yesterday’s dip to $67.64 finding buyers.

Further pullbacks may find buyers, with $72.88 as a near-term target. A move below $66.60 is needed to provide a more bearish view. 

WTI chart

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