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COMMODITIES TECHNICAL ANALYSIS September.01

Gold

The XAU/USD trend is objectively bearish. The price regained some of it losses in the Asian session. Sellers became more active at the start of the day and pushed the price from the dayily high at 1311.60 to the recent lows at 1303. The instrument is heading towards the support at 1300.

If sellers break the level the price will fall further to 1280. Buyers may push the price upwards to 1316.
01_09_2016 xauusd

Brent

Crude oil is in a flat after yesterday’s sharp decrease. Brent erased some of its losses in the Asian session. The price recovered from the session low at 46.90 to 47.20 where the price turned around and fell back to the recent lows at 46.90.

If the pressure persists the crude oil prices will fall further. In this scenario the sellers will lead the price to the mark 46.50. To return control bulls need to push the price to 48.50 and 49.50.

01_09_2016 brent

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