Gold & WTI Crude Oil Trading Levels - NFP Week In Focus! - Forex News by FX Leaders

Gold & WTI Crude Oil Trading Levels – NFP Week In Focus!

Posted Monday, December 4, 2017 by
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

Support               Resistance

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

Support              Resistance            

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!  

 
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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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