Oct. 16 to 22 - Gold & WTI Crude Oil Trading Levels - Forex News by FX Leaders

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

Posted Monday, October 16, 2017 by
Arslan Butt • 1 min read

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!

 
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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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