Latest Levels Of Gold & WTI Crude – Volatility Expected

Thanks to the Gold for an exciting start of the day. Our forex trading signal gave us another +35 pips. The trading day can be more volatile, especially the commodities sides. The economic events from China, particularly the GDP will remain in focus. Since China is the second biggest Oil consumer after the USA, the positive GDP figures are expected to fuel the prices of Crude Oil.

Besides Chinese indicators, we have EIA reports later today during the US session. Typically, the Crude Oil moves 50 – 100 pips on this report. Keeping these events in focus, we present you the latest support and resistance levels for these commodities. Keep following for the trade ideas.

Gold – XAU/USD – Trading Levels

Support     Resistance

1322.1         1339.8

1315.5         1350.9

1304.4        1357.5

Key Trading Level:   $1333.2

WTI – Crude Oil – Trading Levels

Support     Resistance

63.58           64.61

62.93           64.99

62.55           65.64

Key Trading Level:   $63.96

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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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