Commodities Daily Forecast Jul 29 2019

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oil -65984

WTI OIL: Bearish Despite Recovery Attempts.

As long as 57.18/58.42 resistance holds on a daily closing basis. The WTI Oil remains on the downside to 54.27 levels. A halt is likely, it may test 55.85 before falling to 51.92 levels. Above 58.42 faces recovery threats to 60.33/61.30 levels.

Support: 55.88, 54.27, 51.92, 50.77, 49.75

Resistance: 57.18, 58.42, 60.33, 61.30, 63.60

Commodities Daily Forecast Jul 29 2019-WTI OilXAUUSD: Faces pullback Threats…

As long as 1452 resistance holds on a daily closing basis. The XAUSUD remains in a pullback mode and further down could be seen to 1400/1381 levels. A halt is likely, it may turn higher from here. Anyway; below 1381 will extend the pullback to 1360/1346 levels. Above 1452 will restore the upside momentum and aim the 1466 levels ahead of 1489 levels.

Support: 1400, 1381, 1360, 1346

Resistance: 1448, 1466, 1489, 1515

Commodities Daily Forecast Jul 29 2019-Gold

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