Gold & WTI Crude Oil - Key Support & Resistance Levels This Week - Forex News by FX Leaders

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

Posted Monday, February 26, 2018 by
Arslan Butt • 1 min read

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

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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