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COMMODITIES TECHNICAL ANALYSIS JUNE.21

Gold

On the 4-hour time-frame the precious metal was traded above 1280 while the growth was restrained by resistance at 1300. Gold consolidation was within a range. Nevertheless, the bullish trend remained.

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_21_06_2016
Oil

The quotes of Brent oil continued their upwards movement on the 4-hour chart according to FortFS analysts. At the end of the day, the bulls tested the level 50.50. The buyers dominated the market and oil quotes approached the critical overbought level.

The bulls will maintain the leadership if they break through the resistance at 50.50. Their target will be 51.50 and 52.50.

The bears will regain the initiative if they break through the support at 49.50. Their target will be 48.50 and 47.50.

technical_brent_21_06_2016

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