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