Commodities Daily Forecast Aug 15 2019

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WTI Oil: Continues To Recover With Caution!

As long as 54.39 support holds on a daily closing basis. The WTI Oil remains in a recovery mode and further upside couldn’t be ruled out. Resistance comes at 57.04 levels. A halt is likely. But a break above that level would extend the corrective recovery to 58.44 levels. Furthermore, resistance comes at 60.33/61.30 levels.

On the downside, below 54.39 should weaken the recent recovery and turn the focus back on the 53.89/51.92 levels.

In conclusion: WTI Oil sees recovery threats above 54.39 levels with caution.

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

Resistance: 57.04, 58.44, 60.33, 61.30, 62.33, 63.67

Commodities Daily Forecast Aug 15 2019-WTI OilXAUUSD: Consolidates With Upside Bias!

The outlook in XAUUSD remains neutral with risk to the upside. Support comes at 1479 levels. A failure to hold below 1479 levels on a daily closing basis could mean a return to 1528 levels. A break will restore the upside momentum and aims the 1550 levels. Furthermore, resistance comes at 1575 levels ahead of 1593 levels.

On the downside, below 1479 sees pullback threats to 1463/1445 levels before another rising…

In conclusion: The XAUUSD sees upside threats above 1479 despite hesitation…

Support: 1479, 1463, 1445, 1412, 1400, 1381

Resistance: 1528, 1550, 1575, 1993, 1615, 1655

Commodities Daily Forecast Aug 15 2019-XAUUSD

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