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COMMODITIES TECHNICAL ANALYSIS July.13

Gold

Gold quotes had sharply decreased to 1330 from 1360 on the 4-hour chart according to FortFS analysts. The bears took over the market of precious metals and Gold reached the critical oversold level.

The bulls will regain the leadership if they break through the resistance at 1360.00. Their target will be 1390.00.

The bears will maintain the initiative if they break through the support at 1330.00. Their target will be 1300.00 and 1270.00.

technical_xauusd_13_07_2016
Oil

The H4 chart showed a growth for oil quotes. The buyers rose the price above 46.50 and 47.50. The growth was slowed down by the resistance at 48.50. The bullish sentiment dominated the market of “black gold”.

The bulls will maintain the leadership if they break through the resistance at 48.50. Their target will be 49.50 and 50.50.

The bears will regain the initiative if they break through the support at 47.50. Their target will be 46.50 and 45.30.

technical_brent_13_07_2016

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