Gold & WTI Crude Oil Trading Levels - Fed Fund Rate In Focus! - Forex News by FX Leaders

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

Posted Monday, December 11, 2017 by
Arslan Butt • 1 min read

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!

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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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