The first week of May came with a new wave of volatility, causing a variation in the market's overall technical outlook. Consequently, commodities are consolidating into a fresh trading range. Let's take a look at the major trading levels for the Gold and Black Gold (the crude oil).

Gold – XAUUSD – Trading Levels

Support                          Resistance            

S1: 1253.45                     R1: 1266.44

S2:  1249.43                    R2: 1270.46

S3:  1242.94                    R3: 1276.96

WTI – Crude Oil – Trading Levels

Support                         Resistance            

S1: 48.22                         R1: 48.98

S2: 47.10                         R2: 49.21  

S3: 46.08                         R3: 52.84