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COMMODITIES TECHNICAL ANALYSIS April.25

Gold

Gold opened on a negative note on Monday. The pair pushed away from 1290 and fell to 1270. The level stopped the spot which grew a bit after that and reversed some losses. The resistance resides at 1280, the support comes in at 1270 dollars per ounce.

If sellers fail to break below the 1270 level the precious metal may return to 1290 dollars per ounce.



Brent

Brent had a positive start to the day.  Oil prices gapped upwards and reached 52.50 in an Asian session. The market failed to maintain a bid tone afterwards. The benchmark found fresh offers around the level and eased to 53.50 in the late NY session. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel.

Brent is likely to extend its losses. We expect a break below 51.50 and its advance to 50.50.

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