Gold & WTI Crude Oil Trading Levels – Investors to Focus on Fundamentally Loaded Week

The Greenback drops for the seventh week on hawkish tone by the ECB (European Central Bank) during the previous week...


The Greenback drops for the seventh week on hawkish tone by the ECB (European Central Bank) during the previous week. This ultimately supports the Gold. Overall, this week is going to be very volatile for the bullion market also due to the fundamentals discussed in our Jan 29 – Feb 2: Weekly Economic Events Brief.  

Thus, considering these events in focus, we have formulated the major support and resistance levels. All you need to do is to draw them on your daily chart. I hope this will help you gain more grip on the market.

Gold – XAU/USD – Trading Levels

Support     Resistance

1334.21      1362.79

1325.39      1371.61

1311.1        1385.9

Key Trading Level:    1,348.5

WTI – Crude Oil – Trading Levels

Support     Resistance

63.99         66.65

63.16         67.48

61.83         68.81

Key Trading Level:    $65.32  

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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