Fresh Support and Resistance for Gold & WTI Crude Oil
Gold prices gain in Asia today as the investors feel uncertain about the heavy sell-off in the equity sector. The Risk-off sentiment...
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Last updated: Monday, February 12, 2018
Gold prices gain in Asia today as the investors feel uncertain about the heavy sell-off in the equity sector. The Risk-off sentiment and the sentiments of Physical demand from one of the world’s biggest Gold consumer China, is driving the bullion market crazy.
On the other hand, Oil is adding more sellers in the market after the EIA reported a build in stockpiles. It looks like the OPEC’s all the efforts to cut the production are falling apart. I’m going to focus on these major trading levels this week.
Gold – XAU/USD – Trading Levels
Support Resistance
1300.04 1340.34
1284.37 1364.97
1259.74 1380.64
Key Trading Level: 1324.67
WTI – Crude Oil – Trading Levels
Support Resistance
56.38 63.71
53.56 68.22
49.05 71.04
Key Trading Level: 60.89
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Arslan Butt
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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.
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