Oct. 16 to 22 – Gold & WTI Crude Oil Trading Levels

The Gold and Crude Oil traded in line with our previous trading levels, now here comes the new support and resistance levels for the current week. The renewed chances of further sanctions by the US on Iraq are keeping the Gold and Oil supported. Do check FX Leaders Support and Resistance strategy to make the best use of these levels.

Gold – XAU/USD – Trading Levels

Support              Resistance

S1: 1,283             R1: 1,304

S2: 1,276             R2: 1,311

S3: 1,265             R3: 1,322

Key Trade Level: $1,294

WTI – Crude Oil – Trading Levels

Support             Resistance            

S1: 49.72            R1: 51.71

S2: 49.11            R2: 52.31

S3: 48.13            R3: 53.30

Key Trade Level: $50.70         

Just like last week, the Crude Oil inventories will be worth watching to trade the Crude Oil. In addition, the economic events from the United States such as Unemployment Claims and Janet Yellen’s speech later this week. All the best!