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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. 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 CFDs with this provider. You should consider whether you understand how 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 is still trying to break higher, while Brent is, for now, being supported around the $62 level.

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Gold still trying to break higher

Another attempt to break higher yesterday was beaten, but the price of gold has recovered to an extent and is back at $1285.

From here the next target is downtrend resistance from the February highs, which would come into play around $1293.

Gold chart
Gold chart

Brent holds support for now

The price has fought to hold $69.20 this week for Brent, and has succeeded so far.

But lower highs from 25 April are still in place, putting significant bearish pressure on the commodity. The next level of possible support it $66.80, while a move back above $70.80 would provide a more bullish view and suggest that a higher low is in place.

Brent chart
Brent chart

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