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COMMODITIES TECHNICAL ANALYSIS JULY.19

Gold

The 4-hour chart showed that gold consolidated with the tendency to decrease, according to FortFS analyst. The sellers have numerously tested the level 1330.00. The bears kept their dominance on the market.

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 1316.00 and 1300.00.

technical_xauusd_19_07_2016_2

Oil

The H4 chart showed that during Monday trades in the US, Brent oil quotes passed the level 47.50 and continued to decrease. The decrease stopped near 46.50. The bearish influence returned to the oil market.

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

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

technical_brent_19_07_2016_1

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