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COMMODITIES TECHNICAL ANALYSIS JUNE.08

Gold

The precious metal consolidated slightly above 1235 on the 4-hour chart. Metal growth was restrained however, it was traded near the two-weeks maximums.

The bulls will maintain the leadership if they break through the resistance at 1260.00. Their target will be 1280.00.

The bears will regain the initiative if they break through the support at 1235.00. Their target will be 1215.00 and 1200.00.

technical_xauusd_08_06_2016_1

Oil

The gradual growth of Brent oil was observed on the 4-hour time-frame according to FortFS analysts. Last week, an important resistance level at 50.50 could not keep the defense and was overpassed. Buyers’ activity has considerably increased on the market.

The bulls will maintain the leadership if they break through the resistance at 51.50. Their target will be 52.50.

The bears will regain the initiative if they break through the support at 50.50. Their target will be 49.60 and 48.60.

technical_brent_08_06_2016_2

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