Gold & WTI Crude Oil Trading Levels – NFP Week In Focus!
Arslan Butt • 1 min read
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.
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.
Gold – XAU/USD – Trading Levels
S1: 1,272 R1: 1,294
S2: 1,266 R2: 1,300
S3: 1,255 R3: 1,311
Key Trade Level: $1,283
WTI – Crude Oil – Trading Levels
S1: 57.15 R1: 58.84
S2: 56.63 R2: 59.36
S3: 55.79 R3: 60.21
Key Trade Level: $58
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!