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

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


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!  

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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