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Aug 20 – 24: Weekly Technical Levels for Gold & WTI Crude Oil

The commodities (gold and oil) are trading in narrow ranges on the back of mixed fundamentals, but not anymore. There is a chance of potential breakout in gold and crude oil in the wake of FOMC Meeting Minutes this week and EIA stockpile report. We will be speaking about the technical setup on gold and oil shortly, but before that, let’s take a quick look at the key trading levels that are worth watching today.

Gold – Key Trading Levels

Support Resistance
1164.2 1199.34
1153.34 1210.2
1135.77 1227.77
Key Trading Level: 1181.77

WTI Crude Oil – Key Trading Levels

Support Resistance
64.73 67.75
63.81 68.67
62.3 70.18
Key Trading Level: 66.24

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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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