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COMMODITIES TECHNICAL ANALYSIS AUGUST.03

Gold

The 4-hour time-frame showed that gold maintained its positions at the reached maximums. Gold quotes continued to grow and passed the level 1350.00 and approached 1370.00, according to FortFS analysts .

The bulls will maintain the leadership if they break through the resistance at 1370.00. Their target will be 1400.00.

The bears will regain the initiative if they break through the support at 1350.00. Their target will be 1330.00.

technical_xauusd_03_08_2016

Oil

The H4 time-frame showed that the oil attempted to grow to 42.80 however, prices dropped to the support at 41.40. The sellers control the situation on the “black gold” market.

The bulls will regain the leadership if they break through the resistance at 42.80. Their target will be 44.00 and 45.30.

The bears will maintain the initiative if they break through the support at 41.40. Their target will be 40.00.

technical_brent_03_08_2016

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