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COMMODITIES TECHNICAL ANALYSIS JULY.15

Gold

The H4 chart showed a decrease in demand on gold and led to quotes to drop. The bears successfully passed the level 1330.00 according to FortFS analysts. The bearish influence dominated the gold market.

The bulls will regain the leadership if they break through the resistance at 1330.00. Their target will be 1360.00 and 1390.00.

The bears will maintain the initiative if they break through the support at 1316.00. Their target will be 1300.00 and 1270.00.

technical_xauusd_15_07_2016

Oil

Brent oil quotes reached 46.50 on the H4 chart. The bulls brought the price back to 47.50. Oil quotes left the oversold zone and showed a neutral technical image.

The bulls will maintain the leadership if they break through the resistance at 47.50. Their target will be 48.50 and 49.50.

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

technical_brent_15_07_2016

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