Gold & WTI Crude Oil Trading Levels – Fed Fund Rate In Focus!

The Gold and Crude Oil traded in line with our previous trading levels, now here comes the Pre-FOMC trading levels for Gold & WTI Crude Oil.


The Gold and Crude Oil traded in line with our previous trading levels, now here comes the Pre-FOMC trading levels for Gold & WTI Crude Oil. The Federal Reserve is expected to increase the interest rates by 0.25% from 1.25% to 1.50%. These levels are going to support us throughout the week. Take a look…

Gold – XAU/USD – Trading Levels

Support            Resistance

S1: 1,243             R1: 1,269

S2: 1,235           R2: 1,277

S3: 1,222            R3: 1,290

Key Trade Level: $1,256

WTI – Crude Oil – Trading Levels

Support             Resistance            

S1: 56.16            R1: 58.08

S2: 55.57            R2: 58.67

S3: 54.61            R3: 59.63

Key Trade Level: $57.12           

Traders, the EIA is expected to release crude oil inventories figures on Wednesday at 15:30 (GMT). While Federal Funds Rate is due at 19:00 (GMT) right after Crude Oil Inventories. It’s better plot these levels on the chart for better grip on the prices. Good luck!

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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