Key levels for gold and crude
The price of gold recovered from the lows of last week, and while it dropped back from $1315, it could post a higher low here and move back to $1315 and then $1326. A decline back below $1308 raises the prospect of a move to $1300, and then onto the $1280 area. A small bounce on Friday saw the price of WTI defend the $52.00 level. But it continues to see lower intraday highs, a process that began last week. A rally above Friday’s high of $53.20 would at least create a new higher high, but trendline resistance would likely come into play around $53.40. A break of $52.00 would open the way to $49.20.
- Posted: Feb 11, 2019 6:16am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 34