Commodities Daily Forecast Jul 31 2019

WTI OIL: Light Bullish...Eyes On 59.40 XAUUSD: Faces pullback Threats...

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WTI OIL: Light Bullish…Eyes On 59.40

As long as 57.04 support holds on a daily closing. The WTI oil remains on the upside to 59.40 levels. A halt is likely, it may top here and reverse to the downside. Anyway, above 59.40 paves the way to 60.33/61.30 levels. On the downside, below 57.04 restores the downside momentum and aims the 54.27 levels.

Support: 57.04, 55.75, 54.27, 51.92, 50.77, 49.75

Resistance:58.42, 60.33, 61.30, 62.33 63.60

Note that a failure to hold above 58.42  could mean a return to 57.04 levels.

Forex Daily Forecast Jul 31 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

Forex Daily Forecast Jul 31 2019-XAUUSD

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