Gold prices gave up their recent gains on the back of the stronger dollar. The price retreated from 1330 and decreased to 1316. The resistance is at 1330, the support comes in at 1316 dollar per ounce. The 1316 support limits the further decrease of the metal. A break below this mark risks a decline towards 1310. The price may bounce off the 1316 level and recover back towards 1330 per ounce.
Brent futures remained bullish on Tuesday. The price remained under pressure and refreshed weekly low at 46.95. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel. If the bearish tone persists we expect a breakout of the level 46.50. We do not exclude a correction towards the 48.00 region.
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