August 9th – 13th Weekly Trading Levels for Gold & WTI Crude Oil - Forex News by FX Leaders

August 9th – 13th Weekly Trading Levels for Gold & WTI Crude Oil

Posted Wednesday, August 9, 2017 by
Arslan Butt • 1 min read

Just yesterday, I shared the U.S. stock market indices trading levels, including S&P500 & DJIA. Hopefully, these helped in dealing with this morning's mess caused by North Korea & the United States. The impact isn't limited to stocks, the commodity market is also getting waves of it. Let's take a look at the new trading levels which may help us deal with the volatility. 

Gold – XAU/USD – Trading Levels

Support            Resistance

S1: 1262         R1: 1270

S2: 1254        R2: 1274

S3: 1250        R3: 1282

Key Trade Level: $1262

WTI – Crude Oil – Trading Levels

Support             Resistance   

S1: 48.64             R1: 49.60

S2: 48.35            R2: 49.89

S3: 47.87            R3: 50.37

Key Trade Level: $49.20

During the U.S. session, EIA is expected to release crude oil inventories figures at 14:30 (GMT). Those figures should help us plan our future trades.

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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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