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COMMODITIES TECHNICAL ANALYSIS JUNE.20

Gold

Once again, gold was traded upwards on the 4-hour time-frame. Sellers resumed their trades on the market of precious metal after a short break. Having rebounded from the strong support at 1280, the quotes rose to and tested the level 1300.

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 1240.00.

technical_xauusd_20_06_2016

Oil

After a long-term decrease, Brent oil quotes turned around to a corrective growth on the 4-hour chart according to the analysts from FortFS . The support at 47.50 served as a foothold. The bulls raised the price above 48.50 and ended the trades near 49.50.

The bulls will maintain the leadership if they break through the resistance at 49.50. Their target will be 50.50 and 51.50.

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

technical_brent_20_06_2016

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