Gold & WTI Crude Oil Trading Levels – NFP Week In Focus!
Finally, the most awaited month is here. The investors are really excited to see some actions from the Federal Reserve in the form of inter
Finally, the most awaited month is here. The investors are really excited to see some actions from the Federal Reserve in the form of interest rate hikes. Besides this, the non-farm payroll figures will be on the radar this week.
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FX geeks, it's seems like the interest rate hike is already priced in. Especially, looking at the Monday morning open, almost all the trading instruments have opened with a gap. Despite this, the market traded in line with our trading levels. Let's take a look at the weekly trading levels to trade Gold and Crude Oil.
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Gold – XAU/USD – Trading Levels
Support        Resistance
S1: 1,272 Â Â Â Â Â Â Â Â Â Â Â Â R1: 1,294
S2: 1,266 Â Â Â Â Â Â Â Â Â Â Â Â R2: 1,300
S3: 1,255 Â Â Â Â Â Â Â Â Â Â Â Â R3: 1,311
Key Trade Level: $1,283
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WTI – Crude Oil – Trading Levels
Support        Resistance           Â
S1: 57.15 Â Â Â Â Â Â Â Â Â Â Â R1: 58.84
S2: 56.63 Â Â Â Â Â Â Â Â Â Â Â R2: 59.36
S3: 55.79 Â Â Â Â Â Â Â Â Â Â Â R3: 60.21
Key Trade Level: $58 Â Â Â Â Â Â Â Â
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In addition to the API and EIA inventories reports later this week, we also need to see Factory Orders today to trade Crude Oil. For all the newbies, check FX Leaders Support and Resistance strategy to make the best use of these levels. Good luck and keep following for updates! Â
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