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COMMODITIES TECHNICAL ANALYSIS JULY.28

Gold

Towards the end of trading, gold futures have increased on the H4 chart. According to FortFS analysts, further growth was restrained by 1330.00. The bullish sentiment resumed its influence on the market of precious metal.

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

The bears will regain the initiative if they break through the support at 1316.00. Their target will be 1300.00 and 1270.00.

technical_xauusd_28_07_2016

Oil

The H4 time-frame showed a development of the downward trend of Brent oil. Sellers passed another support at 44.00. Currently, oil is highly oversold.

The bulls will regain the leadership if they break through the resistance at 44.00. Their target will be 45.30 and 46.50.

The bears will maintain the initiative if they break through the support at 42.80. Their target will be 42.00.

technical_brent_28_07_2016

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