Gold and Crude Oil prices dipped as the Greenback remained strong following Federal Reserve Chairman Jerome Powell’s remarks that goaded anxieties of faster-than-expected hikes in rate. Today, the investors await his second testimony in front of the Senate Banking Committee. Wondering what to expect from Powell today? Check FX Leaders March 1 – Economic Events Brief. 

The OPEC and other oil producing countries seem to fail in controlling the Crude Oil output. Even yesterday, the EIA reported a build of 3M inventories, higher than the -1.6M draw beforehand. Both of the commodities are in attendance of investors. 

To gain more control over the market, allow me to share the latest trading levels. 

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

Stay tuned for more updates and forex trading signals.

Good luck!