Gold and Oil - Technical Levels

Aug 27 – 31: Key Trading Levels for Gold & WTI Crude Oil

Posted Monday, August 27, 2018 by
Arslan Butt • 1 min read

Gold prices held steady on Monday after marking their best winnings in over a year the session before, supported by short-covering and remarks from the head of the US Federal Reserve indicating a progressive approach to interest rate hikes that weighed on the dollar. The markets are likely to exhibit thin trading volume on the back of the summer holiday but we can expect to take choppy trades.

I will be sharing 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 – XAU/USD – Trading Levels

Support Resistance
1189.71 1215.53
1173.35 1225
1147.53 1250.83
Key Trading Level: 1199.18

WTI – Crude Oil – Trading Levels

Support Resistance
65.8 70.2
63.12 71.93
58.72 76.33
Key Trading Level: 67.52

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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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