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COMMODITIES TECHNICAL ANALYSIS JULY.20

Gold

The 4-hour time-frame showed that the precious metal consolidated during the past trading session. The sellers tested the support at 1330.00, according to FortFS analysts.

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_20_07_2016

Oil

Yesterday, WTI oil was traded in the range limited by 46.50 - 47.50 on the H4 chart. There was an attempt to pass the range upper limit, but oil was traded near the range bottom limit.

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_20_07_2016

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