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COMMODITIES TECHNICAL ANALYSIS SEPTEMBER.05

Gold

Gold futures are neutral today. In general, the gold is overbought and stays close to the last week high at 1330.

To trigger additional downward momentum the price needs to return below 1316. Alternatively, the XAU/USD will grow to 1330 and 1350.

05_09_2016_xauusd

Brent

Brent futures opened Monday at the level 46.50. After a short consolidation at the level the price gapped upwards and the continued its growth. The instrument broke the mark 47.50 and tested 48.50. After testing 48.50 the oil prices pulled back to 47.50. The crude oil gained about 1.90% in the beginning of the European session.

If the price keeps growing we will see the level 48.50 break. If sellers take control they will push the price below 46.50.

05_09_2016_brent

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