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COMMODITIES TECHNICAL ANALYSIS JULY.25

Gold

The 4-hour time-frame showed that gold ended the trading week with a loss. During the previous session, quotes passed the level 1330.00 and reached 1316.00. Technically, the metal consolidated in the neutral zone according to FortFS analysts.

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

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_25_07_2016_1

Oil

The H4 chart showed that WTI oil quotes continued to decline. A further growth was restrained by the resistance at 46.50. On the way down, the sellers tested the support at 45.30.

The bulls will regain the leadership if they break through the resistance at 46.50. Their target will be 47.50 and 48.50.

The bears will maintain the initiative if they break through the support at 45.30. Their target will be 44.00.

technical_brent_25_07_2016_1

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