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COMMODITIES TECHNICAL ANALYSIS AUGUST.08

Gold

On the 4-hour time-frame, the previous metal weakened under the influence of the strong dollar. Sellers passed the level 1350.00 and the further drop stopped at the support near 1330.00, according to Fortfs analysts.

The bulls will regain the leadership if they break through the resistance at 1350.00. Their target will be 1370.00 and 1400.00.

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_08_08_2016

Oil

Brent oil quotes increased on the H4 chart. The level 44.00 was tested and passed upwards at the end of last week trading. “Black gold” was traded in the overbought zone.

The bulls will maintain 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 and 41.40.

technical_brent_08_08_2016

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