Commodities Daily Forecast May 05 2017

WTI Oil: Bearish Eyes Further Downside! XAUUSD: Bearish Sees Further Bearish Momentum!

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WTI Oil: Bearish Eyes Further Downside!

As long as 46.11 resistance holds on a daily closing basis, the WTI crude oil remains on the downside towards the 44.09 levels, a break would open 43.15 levels ahead of the 41.72 levels.

On the upside, above 46.11 sees a recovery risk to the 47.17/48.33 levels before the next falling…

XAUUSD: Bearish Sees Further Bearish Momentum!

As long as 1239 resistance holds on a daily closing basis, the XAUUSD remains on the downside to the 1124 levels, a halt is likely but a cut would open 1197 levels, further down, support comes at the 1180 levels.

On the upside, above 1239 sees a recovery threats to the 1253/1270 levels before the next falling…

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