Trading Levels July 17th – 23rd, Gold & WTI Crude Oil

Written by: Arslan Butt • Tuesday, July 18, 2017 • 1 min read

• Last updated: Tuesday, July 18, 2017

Several top-tier fundamentals are on the table this week. Like last week, these have the potential to change the technical geography of the markets. This update will specify the weekly trading levels which will guide us before we place any position.

The rules of the game are simple; we need to make sure that we don't buy below the resistance and sell above the support. Refer to FX leader support and resistance trading strategy to learn how to profitably trade below levels. Let's take a look at the trading levels!

Gold – XAU/USD – Trading Levels

Support Resistance

S1: 1229 R1: 1239

S2: 1221 R2: 1242

S3: 1207 R3: 1256

Key Trade Level: $1229

WTI – Crude Oil – Trading Levels

Support Resistance

S1: 45.63 R1: 46.80

S2: 44.45 R2: 47.52

S3: 42.56 R3: 48.70

Key Trade Level: $45.65

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ABOUT THE AUTHOR See More

Arslan Butt

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

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.