Gold & WTI Crude Key Trade Levels – Strikes on Syria In Focus!
Arslan Butt • 1 min read
The commodities market including Gold and Crude Oil is supported due to airstrikes on Syria. During the weekend, the US, France, and Britain drove 105 missiles, targeting what they said were 3 chemical weapons facilities in Syria. This came in response to the suspected poison gas attack in Douma during the previous week.
Although Syria is not a chief oil producer, the Middle East is considered most important crude exporter and ongoing tensions between US and Syria tend to trigger anxieties that Crude Oil supplies will be interrupted.
Keeping this in mind, investors seem to be shifting their investments into Gold, which is increasing prices of the yellow metal. Let’s look at the fresh trading levels for this week.
Gold – XAU/USD – Trading Levels
Key Trading Level: 1349.13
WTI – Crude Oil – Trading Levels
S1: 61.96 R1: 63.75
S2: 61.40 R2: 64.30
S3: 60.50 R3: 65.75
Key Trade Level: $62.85