Gold & WTI Crude Oil Trading Levels – Non-farm In the Spotlight

Posted Monday, March 5, 2018 by
Arslan Butt • 1 min read

The most anticipated week of the month has finally come. Traders will be anxiously eyeing to trade volatility coming from the non-farm employment change. Although it’s due to release on Friday, the market trades on sentiments throughout the week.

Looking at the forecast, the NFP and Unemployment rates are both expected to be slightly better than the previous figures.  The US economy added 200K jobs last month, and this months figure is raising it to 204K, whereas the Unemployment Rate is suspected to drop from 4.1% to 4%.

The Greenback is expected to remain supported while weighing on the commodity markets. Let’s take a look at the weekly trading levels for Gold and Crude Oil.

Gold – XAU/USD – Trading Levels

Support     Resistance

1308.29     1338.31

1299.01     1347.59

1284          1362.6

Key Trading Level:    1323.3

WTI – Crude Oil – Trading Levels

Support     Resistance

60.3          63.44

59.33        64.41

57.76         65.98

Key Trading Level:    61.87

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