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COMMODITIES TECHNICAL ANALYSIS JUNE.16

Gold

The precious metal reached a new maximums and approached the level of 1300 after its consolidation near support at 1280 on the 4-hour time-frame. The demand for gold still persists as well as the bullish trend.

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.

technical_xauusd_16_06_2016_1

Oil

The 4-hour chart showed that Brent oil price continued to decrease and overpassed the support at 49.50. It reached the new level at 48.50 according to FortFS analysts. The bears remained in the lead on the commodities market.
The bulls will regain the leadership if they break through the resistance at 49.50. Their target will be 50.50.

The bears will maintain the initiative if they break through the support at 48.50. Their target will be 47.50 and 46.50.

technical_brent_16_06_2016_1

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