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Gold & WTI Crude Oil Trading Levels Ending The Week

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!

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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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