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COMMODITIES TECHNICAL ANALYSIS JULY.18

Gold

On the 4-hour chart gold quotes rebounded from 1330.00 and headed upwards. The metal exited the overbought zone and the bulls dominated the market, according to FortFS analysts.

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

The bears will regain the initiative if they break through the support at 1330.00. Their target will be 1316.00 and 1300.00.

technical_xauusd_18_07_2016

Oil

Brent oil quotes developed an upward trend on the H4 chart. The trading session was in the range limited by 47.50 - 48.50. The bullish sentiment returned to the market of the “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_18_07_2016

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