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