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CURRENCIES TECHNICAL ANALYSIS November.24

Gold

Gold prices were lower on Wednesday. A new bunch of offers sent the yellow metal downwards. Sellers drove the XAU/USD through 1200 dollar per ounce and 1190 towards 1180. The resistance is at 1190, the support comes in at 1180 dollar per ounce.

Technical readings favor another leg lower. The level 1180 is the first obstacle on the sellers' way. Should the price break the level and the sellers will extend their gains towards 1170.
24_11_2016-xauusd
Brent

The oil market seems fairly balanced now. The price retained a neutral, short-term undertone on Wednesday. Brent traded in a range between 49.50 and 48.50.  The resistance is at 49.50, the support comes in at 48.50 dollars per barrel.

As the most probable scenario, we expect a technical slide towards the 47.50 level.

24_11_2016-brent

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