Technical Trading Levels For Gold & WTI Crude Oil – Weekly Numbers - Forex News by FX Leaders

Technical Trading Levels For Gold & WTI Crude Oil – Weekly Numbers

Posted Thursday, June 29, 2017 by
Arslan Butt • 1 min read

In the beginning of this week, we didn’t share trading levels on gold and WTI crude oil as these were trading exactly in line with our previous trading levels. However, this morning, the gold violated the previous level due to slight volatility because of technicals, specifically the to symmetric triangle breakout. Whereas, the WTI crude oil has managed to trade within our suggested trading levels.

Yesterday, there were four speeches from different central bank officials which suggested a hawkish outlook for the upcoming policy meetings. In response, the commodities market, and specifically the precious metal gold has completely upset our weekly support and resistance levels. Let's have a look at the new weekly trading levels.

Gold – XAUUSD – Trading Levels

Support            Resistance

S1: 1244            R1: 1255

S2: 1237            R2: 1260

S3: 1232            R3: 1269

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

CryptoCurrencies – Coming Soon

Aside from gold & crude oil, we are about to add more instruments such as CryptoCurrencies. Stay tuned for new analysis & forex signals. Refer to our new article on Cryptocurrencies for a better understanding. Good Luck!

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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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