Pre-NFP Trading Levels – Gold & WTI Crude Oil - Forex News by FX Leaders

Pre-NFP Trading Levels – Gold & WTI Crude Oil

Posted Thursday, August 3, 2017 by
Arslan Butt • 1 min read

Yesterday, I shared trading levels on global stock market indices and the market is trading exactly in these ranges. The gold and crude oil have traded according to our forecasted levels, and tomorrow the United States is expected to release one of the most awaited economic events. To help us cope with the volatility let's take a look at the new trading levels.

Gold – XAU/USD – Trading Levels

Support            Resistance

S1: 1250         R1: 1271

S2: 1244        R2: 1278

S3: 1234        R3: 1288

Key Trade Level: $1261

WTI – Crude Oil – Trading Levels

Support             Resistance   

S1: 48.28             R1: 49.96

S2: 46.60            R2: 51.01

S3: 45.56            R3: 52.68

Key Trade Level: $48.28

For now, we have BOE Monetary Policy meeting today and the labor market figures from the United States tomorrow. These trading levels are sure to keep you capturing high probability trades. Check out FX leader support and resistance trading strategy article to help you trade these levels profitably. 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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