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COMMODITIES TECHNICAL ANALYSIS AUGUST.30

Gold

Gold started Monday with a decrease and was able to touch the support 1316.00. However, the returned demand strengthened the instrument and buyers were able to push the price towards 1330.00.

Bulls can return control if they break the resistance 1330.00. Buyers’ target is 1300.00.

Bears will have the ball if they break the support at 1316. The possible bears’ target is 1300.00.
30_08_2016 xauusd
Brent

According to FortFS Brent consolidated on Monday. The instrument traded at the mark 49.20. Brent futures are under pressure and we believe they will remain under pressure in the near term.

We will consider buying Brent if buyers break the level 49.50. Bulls’ target is 50.50.

A downtrend will start as soon as the price drops below 48.50. Sellers targets are the marks 47.50 and 46.50.

30_08_2016 brent

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