Major Support & Resistance Levels – Gold & Crude Oil - Forex News by FX Leaders

Major Support & Resistance Levels – Gold & Crude Oil

Posted Tuesday, May 2, 2017 by
Arslan Butt • 1 min read

The first week of May came with a new wave of volatility, causing a variation in the market's overall technical outlook. Consequently, commodities are consolidating into a fresh trading range. Let's take a look at the major trading levels for the Gold and Black Gold (the crude oil).

Gold – XAUUSD – Trading Levels

Support                          Resistance   

S1: 1253.45                     R1: 1266.44

S2:  1249.43                    R2: 1270.46

S3:  1242.94                    R3: 1276.96

WTI – Crude Oil – Trading Levels

Support                         Resistance   

S1: 48.22                         R1: 48.98

S2: 47.10                         R2: 49.21

S3: 46.08                         R3: 52.84

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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