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COMMODITIES TECHNICAL ANALYSIS JULY.27

Gold

At the end of yesterday, the demand for gold had decreased which was shown on the 4-hour time-frame. Until the end of the trading session, the metal was near consolidation level at 1316 according to FortFS analyst.

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_27_07_2016_1

Oil

Brent oil developed a downward trend on the H4 time-frame. Sellers dropped the price to the support at 44.00.

The bulls will regain the leadership if they break through the resistance at 45.30. Their target will be 46.50 and 47.50.

The bears will maintain the initiative if they break through the support at 44.00. Their target will be 42.80.

technical_brent_27_07_2016_1

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