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COMMODITIES TECHNICAL ANALYSIS SEPTEMBER.30

Gold

The pair preserved moderately bearish tone. The yellow metal remained under pressure and broke the level 1320. However the price was not able to hold below the broken level and returned above it. The resistance is at 1330, the support comes in at 1320 per ounce.

A move below the 1315 mark would suggest a resumption of a bearish trend. The level 1310 is the next sellers’ target.

30_09_16_xauusd

Brent

Brent was inactive during the Asian and European sessions on Thursday and rallied in the North American one. The price grew and set a new weekly high at 49.50. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel.

We believe that this is essentially a “buy only” market at the moment. The next buyers' target is the level 49.50 dollars per barrel. The price will break it after a short roll back.

30_09_16_brent

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