Gold & WTI Crude Oil – Key Support & Resistance Levels This Week

Gold rallied to place a new intraday high during the Asian session and the market is uncertain about the Fed Chair Powell testimony...


During the Asian session, the Gold rallied to place a new intraday high. It looks like the market is uncertain about the Fed Chair Powell testimony. That’s going to be his very first testimony as a new Fed (Federal Reserve) Chair. Investors will form a sentiment about the next rate hikes and will move the Gold and Oil based upon on the next policy sentiments.  

Anyways, our previous trading levels went really well as Gold reversed exactly from $1,322, the second support recommended in our update Gold & WTI Crude – Post FOMC Trading Levels.  Let’s check out the key support and resistance levels for this week.

Gold – XAU/USD – Trading Levels

Support     Resistance

1323.85     1347.61

1316.51     1354.95

1304.63    1366.83

Key Trading Level:    1335.73

WTI – Crude Oil – Trading Levels

Support     Resistance

61.54         63.82

60.84        64.52

59.7           65.66

Key Trading Level:    62.68

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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