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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 69% 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

Oil has managed to clear key resistance, while gold has moved lower in early trading.

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Gold edges back for now

The gold price is moving off another six-month high, but until we see a drop below $1280, it is still more likely to be a buying opportunity.

Only a sustained price action below $1280 would change the short-term picture. Further gains target $1300 and then $1309.

Gold chart
Gold chart

WTI finds the strength to rally

WTI has finally managed, it seems, to clear the $47.00-$47.50 area of resistance. This breakout, if it lasts, brings the $49.00 and then the $52.00-$53.00 zones into play.

A pullback would potentially find support around $47.00 and then down to $45.70.

WTI chart
WTI chart

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