August 16th – Pre- FOMC Trading Levels for Gold & WTI Crude Oil - Forex News by FX Leaders

August 16th – Pre- FOMC Trading Levels for Gold & WTI Crude Oil

Posted Wednesday, August 16, 2017 by
Arslan Butt • 1 min read

As promised yesterday, here come the Pre-FOMC trading levels for gold & WTI Crude Oil. Hopefully, these levels will support us throughout the week. Take a look!

Gold – XAU/USD – Trading Levels

Support            Resistance

S1: 1262             R1: 1293

S2: 1252            R2: 1302

S3: 1237            R3: 1318

Key Trade Level: $1277

WTI – Crude Oil – Trading Levels

Support             Resistance

S1: 47.17             R1: 48.79

S2: 46.67            R2: 49.29

S3: 45.87            R3: 50.10

Key Trade Level: $47.98

Traders, during the US session today at 14:30 (GMT), the EIA is expected to release crude oil inventories figures. FOMC meeting minutes are due at 18:00 (GMT). Make sure to plot these levels on the chart for a better grip on the prices. Keep following for our Forex Trading Signals. 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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