Commodities Daily Forecast Oct 18 2016

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WTI Crude Oil, Bullish Pressure Builds Up 52.09 Levels…

As long as 50.29/49.40 support holds on a daily closing basis, the WTI oil remains on the upside to the 52.09 levels ahead of the 53.85 levels.

Below 49.40 sees a pullback risk to the 48.19/47.35 levels before the next rising…

Conclusion: the WTI crude oil continues to face upside threats above the 50.29/49.40 levels…

commodities-daily-forecast-oct-18-2016-wti-oilXAUUSD, Under Pressure But Around Critical Support!

As long as 1277 broken support – turned resistance – holds on a daily closing basis, the XAUUSD remains on the downside to the 1250/1239 levels where rebound is very likely, below 1239 sees a fall risk to the 1207 levels, above 1272 sees a recovery risk to the 1302/1319 levels before the next falling…

Note: Minor resistance comes at the 1258 levels…above 1258 will open the main resistance 1277, below will continue to consolidate with downside bias…

commodities-daily-forecast-oct-18-2016-xauusd

 

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