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


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.

 
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
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.

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