Weekly Support & Resistance Levels – Gold & Crude Oil

Written by: Arslan Ali Butt • Monday, June 19, 2017 • 1 min read

• Last updated: Monday, June 19, 2017

Due to rapid changes in fundamentals, ongoing tensions, and economic events, the prices for gold and crude oil are rapidly changing. However, over the previous week, our forex trading signal on WTI crude oil and gold did very well. Specifically, the gold trading signal closed at take profit five times in a row. Special thanks to the US Federal Reserve for providing several trade opportunities before and after the release of the Fed Fund Rate.

In response to Fed, and specifically the commodities market, the precious metal Gold has already outdone our weekly support and resistance levels. Let's take a look at the fresh weekly trading levels.

Gold – XAU/USD – Trading Levels

Support Resistance

S1: 1250 R1: 1262

S2: 1243 R2: 1273

S3: 1232 R3: 1280

WTI – Crude Oil – Trading Levels

Support Resistance

S1: 44.24 R1: 45.19

S2: 43.66 R2: 46.14

S3: 42.71 R3: 46.74

This week, we don't have many major economic events, so, the market is likely to follow our trading levels. Good luck!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Open a FREE Trading Account
Read our latest reviews on: Avatrade, Exness, HFM and XM

ABOUT THE AUTHOR See More

Arslan Ali Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Ali 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.