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COMMODITIES TECHNICAL ANALYSIS October.26

Gold

The XAU/USD closed bullish yesterday. Buyers were able to push the price from 1260 towards 1270. The pair pierced the 1270 level by the end of the day. The resistance resides at 1270 dollars per ounce, the support comes in at 1260.

If the upward pressure persists gold prices may extend their gains towards 1275.
26_10_2016_xauusd
Brent

Brent prices moved lower after testing the level 51.50. Bears pushed prices below 51.50. Brent headed towards 50.50 and tested the level by the end of trades. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.

A break below 50.50 will open the way to 49.50 dollars per barrel.

26_10_2016_brent

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