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COMMODITIES TECHNICAL ANALYSIS October.25

Gold

Gold prices remained in a range on Monday. The price made an attempt to reclaim 1270 but failed. After touching the upper limit of the range yellow metal dropped to its lower one. The resistance resides at 1270 dollars per ounce, the support comes in at 1260.

Sellers struggled to take out the support 1260. If succeeded they will push the price towards 1250.
25_10_2016_xauusd
Brent

Brent sentiment remained negative on Monday. The bearish momentum was strong enough to push the price below 51.50. However, sellers failed to extend their gains and spent the day a few pips below the level. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.

We expect the price to stay below 51.50. Sellers may lead the price to 50.50.

25_10_2016_brent

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