Gold & WTI Crude Oil Under Bearish Attack – Key Levels to Watch Today

The US dollar finally gained some support after the Senate leaders declared two-year budget deal despite the fact that the plan...


The US dollar finally gained some support after the Senate leaders declared two-year budget deal despite the fact that the plan still required to pass the House to prevent a US government shutdown. Consequently, we have seen the risk-on sentiment getting back in the game. Investors moved back to equities and dollar while selling off their Gold holdings.

On the other hand, the Crude Oil plunged sharply exactly as forecasted in our previous report on before EIA report release. Anyways, the market has already violated the previous trading levels and here are the new trading levels for this week.

Gold – XAU/USD – Trading Levels

Support     Resistance

1312.14        1332.84

1302.77        1344.17

1291.44       1353.54

Key Trading Level:    1,323.47

WTI – Crude Oil – Trading Levels

Support     Resistance

60.56    63.48

59.45    65.29

57.64    66.4

Key Trading Level:    62.37

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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