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COMMODITIES TECHNICAL ANALYSIS June.01

Gold

Gold has grown on the 4-hour time-frame and that led to the breakthrough of resistance at 1215.00. The buyers, who returned to the market, corrected the pair after the large-scale sales.

The bulls will maintain the leadership if they break through the resistance at 1215.00. Their target will be 1235.00 and 1260.00.

The bears will regain the initiative if they break through the support at 1200.00. Their target will be 1180.00.

technical_auxusd_01_06_2016_1

Oil

The 4-hour chart showed a sharp drop of Brent oil quotes according to FortFS analysts. The quotes of the “black gold” reached the other important price level at 49.60 after they broke through the support at 50.50 downwards.

The bulls will regain the leadership if they break through the resistance at 50.50. Their target will be 51.50.

The bears will maintain the initiative if they break through the support at 49.60. Their target will be 48.60 and 47.80.

technical_brent_01_06_2016_1

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