Commodities Daily Forecast Aug 19 2016

WTI Crude Oil: Bullish, Eyes The 50.00 Levels ! XAUUSD: Sideways Within 1328/1355 ?!!!

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WTI Crude Oil: Bullish, Eyes The 50.00 Levels !

WTI Oil:  As long as 48.72 support – broken resistance turned support – holds on a daily closing basis , the outlook in WTI Oil remains on the upside towards the 50.63 levels. A halt is likely but a break will turn the focus on the 52.00 levels.

On the downside, support comes at the 48.72 levels, below 48.72 sees a pullback risk to the 47.26/46.42 levels before the next rising…

Conclusion: The WTI Oil continues to face upside threats above the 48.72 levels…

Commodities Daily Forecast Aug 19 2016-WTI oilXAUUSD: Sideways Within 1328/1355 ?!!! 

XAUUSD: As long as 1355 resistance holds on a daily closing basis, the XAUUSD remains in a pullback mode and further down couldn’t be ruled out, main support comes at the 1328 levels, a cut through the 1328 levels will turn outlook bearish towards the 1310/1295 levels. On the upside, above 1355 will pave the way towards the 1367/1382 levels.

 Commodities Daily Forecast Aug 19 2016-Gold

MARKET DATA

UPCOMING ECONOMIC EVENTS

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