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COMMODITIES TECHNICAL ANALYSIS JUNE.09

Gold

On the 4-hour time-frame, the demand increased on the gold and after consolidation above 1235 gold quotes rose to 1260 and tested it. According to FortFS analysts, the precious metal trades passed under the bulls’ influence.

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_09_06_2016

Oil

The continued upwards trend of Brent oil quotes was demonstrated on the 4-hour time-frame. The bulls dominated the market and brought the price to the level of 52.50 after they overpassed the level of 51.50.

The bulls will maintain the leadership if they break through the resistance at 52.50. Their target will be 54.00.

The bears will regain the initiative if they break through the support at 51.50. Their target will be 50.50 and 49.60.

technical_brent_09_06_2016

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