Gold showed an upward trend on the 4-hour time-frame. Due to an increased demand, gold quotes rose to the maximum at 1360. At the end of trading the price rolled downwards. Nevertheless, the precious metal was overbought and the market was under the bulls’ influence.
The bulls will maintain the leadership if they break through the resistance at 1330.00. Their target will be 1360.00.
The bears will regain the initiative if they break through the support at 1300.00. Their target will be 1270.00 and 1240.00.
Brent oil quotes reached the minimum at 47.50 on the H4 chart. At the end of trading, the price approached and tested the resistance at 48.50 according to FortFS analysts. The market sentiment was bearish and oil moved to the oversold zone.
The bulls will regain the leadership if they break through the resistance at 48.50. Their target will be 49.50 and 50.50.
The bears will maintain the initiative if they break through the support at 47.50. Their target will be 46.50 and 45.30.
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