Commodities Daily Forecast Aug 06 2019

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Oil-Pump-Drilling 6598989

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 06 2019-WTi OilXAUUSD: Bullish Eyes 1485 Levels

As long as 1463/1445 support holds on a daily closing basis. The XAUUSD remains on the upside to 1485 levels. A halt is likely, it may test 1463 before attempts to break above 1485 levels. Anyway; above 1485 aims the 1510 levels. Furthermore, resistance comes at 1528 levels ahead of 1550 levels.

On the downside, below 1445 sees a pullback risk to 1412/1400 levels before another rise. Next support comes at 1381 levels.

In conclusion: The XAUUSD faces upside threats above 1445 levels.

Support: 1463, 1445, 1412,  1400, 1381, 1360, 1346, 1327

Resistance: 1485, 1510, 1528, 1550, 1575, 1592, 1614

Commodities Daily Forecast Aug 06 2019-XAUUSD

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