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COMMODITIES TECHNICAL ANALYSIS March.31

Gold

Gold had another negative day on Thursday. The price was declining the whole day. The metal started the day at 1255 and declined to 1245 by the NY session. The resistance is at 1250, the support comes in at 1240 dollars per ounce.

The metal remained within oversold levels. We expect a break below 1245 and continuation of s slide towards 1240 dollars per ounce.



Brent

Brent maintained its upside impulse on Thursday. Buyers broke the level 52.50 and extended their gains afterwards. The benchmark reached 53.00 during the NY session. The resistance is at 53.50, the support comes in at 52.50 dollars per barrel.

A move above 53.00 will ease the downward pressure further. Brent has all chances to retake 53.50 in this case.

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