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COMMODITIES TECHNICAL ANALYSIS SEPTEMBER.19

Gold

The XAU/USD got under selling pressure on the back of a strong U.S. CPI. Sellers led the price lower. The resistance is at 1316, the support comes in at 1300 per ounce.

A move below the 1305 mark would suggest a resumption of a bearish trend. The level 1300 is the next sellers’ target. If the price gets above 1316 buyers will lead the price higher.
19_09_2016 xauusd

Brent

Brent remained under pressure, however, the price found a solid support around 45.30. The price partly erased its losses by the end of trades.  The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

The overall picture is bearish. After rolling back sellers may try to overcome the 45.30 level again. Alternatively, the price may extend its recovery towards the 47.00 region.

19_09_2016_UKOIL

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