The 4-hour time-frame showed that demand on the precious metal remained high. The quotes were traded below 1300 whereas the decrease was restrained by 1280. The bulls dominated in the pair.
The bulls will maintain the leadership if they break through the resistance at 1300.00. Their target will be 1315.00.
The bears will regain the initiative if they break through the support at 1280.00. Their target will be 1260.00 and 1235.00.
Yesterday on the 4-hour chart, oil was traded in the range limited by 49.60 - 50.50. At the end of trading, the pair consolidated slightly above 49.60. The bears still dominating the market, according to FortFS analysts.
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 47.60.
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