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COMMODITIES TECHNICAL ANALYSIS JUNE.23

Gold

Gold quotes continued their decline on the 4-hour chart towards 1260. The demand for the precious metal has slightly decreased which led to an increased activity of sellers.

The bulls will regain the leadership if they break through the resistance at 1280.00. Their target will be 1300.00 and 1315.00.

The bears will maintain the initiative if they break through the support at 1260.00. Their target will be 1240.00 and 1220.00.

technical_xauusd_22_06_2016_3

Oil

The quotes of Brent oil overpassed the resistance at 50.50 on the 4-hour chart according to FortFS analysts. After a short-term consolidation above that level, the quotes dropped back to 49.50 at the end of trading.

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

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

technical_brent_22_06_2016_3

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