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COMMODITIES TECHNICAL ANALYSIS AUGUST.11

Gold

On the H4 chart, futures on gold rose above 1350 but then sharply dropped back ,according to Fortfs analysts . From the technical point of view, the metal recovered from the overbought area into the neutral zone.

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_11_08_2016

Oil

Oil continued the development of the downwards trend on the 4-hour time-frame and reached the support at 44.00. After a continuous growth, oil returned to the neutral zone.

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_11_08_2016

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