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