Nov. 16 – Gold & WTI Crude Oil Weekly Trading Levels

During the Asian trading session, we shared a Gold analysis, and the precious metal trading as planned. On the flip side, our forex trading signal on Crude Oil is showing some green pips.

In order to take more grip on the market, check out new support and resistance levels for Gold and Crude Oil. Check FX Leaders Support and Resistance strategy to make the best use of these levels.

Gold – XAU/USD – Trading Levels

Support              Resistance

S1: 1,268             R1: 1,285

S2: 1,263             R2: 1,290

S3: 1,254             R3: 1,299

Key Trade Level: $1,276.85

WTI – Crude Oil – Trading Levels

Support             Resistance            

S1: 54.47            R1: 56.67

S2: 54.35            R2: 52.22

S3: 53.47            R3: 58.11

Key Trade Level: $55.79         

Today, we have few high impact economic events from the US at 2:15 p.m. particularly the Capacity Utilization Rate and Industrial Production. These may cause some fluctuations in the Oil market. So we should be ready for it. All the best!