Commodities Daily Forecast Apr 05 2017

WTI Crude Oil, Bullish Eyes Further Upside...XAUUSD Loses The Upside Momentum, Vulnerable To The Downside...

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WTI Crude Oil, Bullish Eyes Further Upside…

As long as 50.50/51.30 support holds on a daily closing basis, the WTI oil remains on the upside to the 52.70 levels, a break will open 54.00 before the next falling (weekly and daily resistance).

On the downside, below 50.50 sees a pullback risk to the 48.59 levels before the next rising…

blankXAUUSD Loses The Upside Momentum, Vulnerable To The Downside…

As long as 1239 support holds on a daily closing basis, the XAUUSD remains on the upside to 1258 levels, a halt is likely and a reversal is very likely, however; a clear break through the 1258 level will open 1292 levels, further upside, resistance comes at the 1319 levels…

On the downside, below 1239 will open main support at 1224 levels, we might see hesitation or consolidation around this level, anyway, below 1224 sees a fall risk to the 1197 levels…

Conclusion: Despite XAUUSD’s immediate risk remains higher above 1224 levels, the pair remains exposed to the downside below the 1258 levels…(Minor resistance 1253)…

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