Gold and Oil - Technical Levels

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

Posted Monday, August 20, 2018 by
Arslan Butt • 1 min read

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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About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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