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COMMODITIES TECHNICAL ANALYSIS JUNE.02

Gold

Gold quotes dropped on the 4-hour time-frame and overpassed the support at 1215 downwards, according to the analysts from FortFS. At the end of trading the quotes made a small step up, due to dollar growth.

The bears 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_xauusd_02_06_2016_1

Oil

The 4-hour time-frame showed that the crude oil Brent resumed its growth after a considerable price drop. As a result of buyers’ activity resistance at 49.60 was broken through.

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

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

technical_brent_02_06_2016_1

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