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COMMODITIES TECHNICAL ANALYSIS JUNE.10

Gold

The development of the upwards trend of the precious metal was clearly shown on the 4-hour time-frame. The buyers managed to overpass the level 1260 and consolidated above by heading towards the nearest resistance at 1280. The bulls kept their dominance on the market of precious metals.

The bulls will maintain the leadership if they break through the resistance at 1280.00. Their target will be 1300.00.

The bears will regain the initiative if they break through the support at 1260.00. Their target will be 1235.00 and 1215.00.

technical_xauusd_10_06_2016

Oil

There was a consolidation near 52.50 on the 4-hour chart and then, and the price path was changed downwards. On the crude oil market the sellers dropped the price to 51.50 and tested that mark according to FortFS analysts.

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

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

technical_brent_10_06_2016

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