Commodities Daily Forecast Aug 05 2019

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Oil-659898 (1)

WTI Oil: Consolidates With Downside Bias!

As long as 55.75/57.04 resistance holds on a daily closing basis. The WTI Oil remains on the downside to 54.27 levels ahead of 51.92 levels. Above 57.04 sees recovery threats to 58.44/59.39 levels before another fall.

Support:54.27, 51.92, 50.77, 49.75, 48.27

Resistance:55.75, 57.04, 58.44, 60.33, 61.30

Commodities Daily Forecast Aug 05 2019-WTI OilXAUUSD: Bullish Eyes Further Upside…

No change, as long as 1400/1430 support holds on a daily closing basis. The XAUUSD remains on the upside to 1448 levels. A break aims 1466 levels. A halt is likely. It may test 1448 before attempts to break above 1466 levels. Next resistance comes at 1489 levels ahead of 1515 levels. Below 1400 sess a fall risk to 1381/1360 levels.

Support: 1430, 1400, 1381, 1360, 1346, 1327

Resistance: 1448, 1466, 1489, 1515, 1533, 1555

Commodities Daily Forecast Aug 05 2019-XAUUSD

 

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