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Weekly Support & Resistance Levels – Gold & Crude Oil

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

Support            Resistance

S1: 1225             R1: 1236

S2: 1222            R2: 1241.39

S3: 1216            R3: 1247.33


WTI – Crude Oil – Trading Levels

Support             Resistance            

S1: 45.28            R1: 47.08

S2: 44.73            R2: 47.63

S3: 43.83            R3: 48.53


Ending Remarks

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.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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