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COMMODITIES TECHNICAL ANALYSIS November.29

Gold

Gold futures traded mixed on Monday. The precious metal spiked to the level 1200 in the Asian session and moved lower during the European and American sessions. The resistance resides at 1200, the support comes in at 1190 dollars per ounce.

We expect a break below 1180 after which gold may extend its losses towards 1170.
29_11_2016-xauusd
Brent

Brent had a positive day on Monday. Buyers managed to push prices higher and tested the level 48.50. Buyers failed to take out the level and oil prices moved lower. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

Should Brent futures break 48.50 the benchmark will continue its buying momentum. A failure here will return prices below 47.50.

29_11_2016-brent

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