Commodities Daily Forecast Oct 03 2016

oil -6595845

WTI Oil: Pulls Back With Caution!

As long as 51.32 resistance holds on a daily closing basis. WTI Oil remains in a pullback mode and further down could be seen towards the 49.75 levels, buyers may return here, but a cut through that level will extend the corrective pullback to the 48.54 levels…

On the upside. Resistance comes at the 51.32 levels, a clear break above that level will aim the 53.00 levels, further upside, resistance stands at the 54.09 levels.

Conclusion: The WTI Oil sees a corrective pullback threats below the 51.32 levels.

Commodities-Daily-Forecast-Oct-03-2016-WTI-OilXAUUSD: Sees Further Bearish Momentum!

As long as 1276/1288 resistance holds on a daily closing basis. The XAUUSD remains on the downside to the 1267 levels. A halt could be seen, it may turn higher from here. But if this fails to occur, expect further weakness to the 1258 levels. The next support comes at the 1239 levels ahead of the 1224 levels.

On the upside, above 1276/1288 levels will aim the 1300 levels, further upside will turn the focus on the 1313 levels before the next falling, above 1313 will suggest short-term bottoming and pave the way to the 1334 levels.

Conclusion: The XAUUSD continues to face downside threats below the 1313 levels even in the case of a

corrective recovery.

Commodities-Daily-Forecast-Oct-03-2016-Gold

MARKET DATA

UPCOMING ECONOMIC EVENTS