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COMMODITIES TECHNICAL ANALYSIS March.27

Gold

Gold prices closed the week bearish. The metal was growing the whole day and moved from 1240 to 1250. The precious metal turned bearish after touching the hurdle and dropped to the opening prices level. The resistance resides at 1250, the support comes in at 1240 dollars per ounce.

A close below 1240 will generate fresh bearishness towards 1230 dollars per ounce.



Brent

Brent remained neutral on Friday. The price stayed in a narrow range 51.00 – 50.50 the whole day. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.

Black gold has the potential to post more gains. To maintain buying interest the price has to stay above 51.00.

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