Commodities Daily Forecast Aug 13 2019

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WTI Oil: Sees Limited Recovery!

As long as 52.89/51.92 support holds on a daily closing basis. The WTI Oil remains in a recovery mode, and further upside couldn’t be ruled out to 55.75 levels. A halt is likely, it may turn lower from here. Anyway; above 55.75 will extend the corrective recovery to 57.04/58.44 levels.

On the downside, immediate support comes at 54.39 levels ahead of 52.89/51.92 levels (main). Below that level will restore the downside momentum, aims the 50.77/49.75 levels. Next support comes at 48.72 levels.

In conclusion: WTI Oil sees recovery threats above 52.89/51.92 levels with caution.

Support: 54.39, 52.89, 51.92, 50.77, 49.75, 48.72

Resistance: 55.75, 57.04, 58.44, 60.33, 61.30

Commodities Daily Forecast Aug 13 2019-WTI OilXAUUSD: Bullish Pressure builds On The 1528 Levels!

As long as 1510 -broken resistance turned support-holds on a daily closing basis. The XAUUSD remains on the upside to 1528 levels. A halt is likely, it may test 1510 before attempts to break above 1528 levels. Anyway; above 1528 aims the 1550 levels. Furthermore, resistance comes at the 1575 level ahead of the 1593 level.

On the downside, below 1510 sees a pullback risk to 1485 before another rise.

In conclusion: The XAUUSD remains on the upside above 1510 levels.

Commodities Daily Forecast Aug 13 2019-XAUUSD

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