Gold & WTI Crude Oil Trading Levels – Boosted Haven Appeal In Play
Gold and WTI are trading bullish as concerns over a trade war between the world’s largest economies have pushed investors into the arms of safe haven assets. Sooner or later, overbought Gold is likely to take a bearish turn for technical reasons.
Crude Oil is supported owing to rising geopolitical risk in the Middle East which has driven bullishness in Oil. Besides that, the US President Trump advises to pull out from the Iran nuclear deal, which boosts worries that sanctions will be reimposed on the country. Sanctions would seriously limit Tehran’s ability to export crude oil.
This week, the market may be less volatile owing to a lack of economic events and Good Friday.
Gold – XAU/USD – Trading Levels
Support Resistance
1318.9 1352.36
1308.56 1362.7
1291.83 1379.43
Key Trading Level: 1335.63
WTI – Crude Oil – Trading Levels
Support Resistance
62.64 66.18
61.54 67.28
59.77 69.05
Key Trading Level: 64.41
Stay tuned for trade ideas and forex trading signals. Good luck!
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