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COMMODITIES TECHNICAL ANALYSIS AUGUST.10

Gold

Because of a weaker dollar, the demand for gold had increased on the H4 chart. The prices rebounded from the support at 1330.00 and headed to 1350.00, according to FortFS analysts .

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

The bears will regain the initiative if they break through the support at 1330.00. Their target will be 1316.00 and 1300.00.

technical_xauusd_10_08_2016_1

Oil

The 4-hour chart pointed out that oil cheapened. The buyers met a strong resistance at 45.30. That resulted in the growth slowdown and a price drop.
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 and 41.40.

technical_brent_10_08_2016_2

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