The XAU/USD preserved an upward pressure. However, all buyers’ up-moves met sellers’ resistance at 1340. The resistance is at 1340, the support comes in at 1330 dollar per ounce.
The level 1340 is an initial barrier and the next trigger for the upward move for the pair. A break above will open the way towards 1350 dollar per ounce. If the price moves away from the level that may trigger losses to the level 1330.
Brent remained under pressure on Monday despite a bullish spike during the day. The price met a solid resistance at 47.50. Crude oil prices touched the level and bounced downwards. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.
If the bearish tone persists we expect a return below 46.50 dollars per barrel.
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