Gold & WTI Crude – Weekly Support and Resistance Levels

During the previous week, the commodities traded exactly as per our support and resistance levels forecasted in Gold & WTI Crude Oil Under Bearish Attack. Gold fell plunged sharply after the US inflation report but soon recovered on the stronger dollar.

This week is fully loaded with some really high impact economic events and we may see massive movements in the financial markets. In order to cope up with these moves, here are the key support and resistance levels.

Gold – XAU/USD – Trading Levels

Support     Resistance

1326.86         1374.96

1297.53         1393.73

1278.76         1423.06

Key Trading Level:    1,345.63

WTI – Crude Oil – Trading Levels

Support     Resistance

59.25           63.04

56.83          64.41

55.46          66.83

Key Trading Level:    60.62

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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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