Weekly Support & Resistance Levels – Gold & Crude Oil
Arslan Butt • 1 min read
The Gold finally showed some signs of life in the New York session. Our forex trading signal on Gold is active now and our position is already in profit. As mentioned earlier in the update entitled Gold Holds Below Major Resistance – French Elections In Play, the Gold was unable to break above $1235 and conversely, it managed to break below a $1228.
At the beginning of the new week, let's take a look at the major trading levels.
Gold – XAUUSD – Trading Levels
S1: 1225 R1: 1236
S2: 1222 R2: 1241.39
S3: 1216 R3: 1247.33
WTI – Crude Oil – Trading Levels
S1: 45.28 R1: 47.08
S2: 44.73 R2: 47.63
S3: 43.83 R3: 48.53
We aren't expecting any major economic events with the potential to rattle the market this week. It is recommended that follow these levels in order to gain more grip on their trading positions.