Gold and Oil technical analysis (31/08/15)

GOLD TECHNICAL ANALYSIS – Gold gains modestly today and support level remains 20-day moving average at 1120.7. High volatility abounds with a light upside bias amid mixed directional signals. The bulls should keep watch of past daily highs at 1140.9 then 1146.6. Today prices are currently capped by a weak resistance level at 1136.

Oil, Copper Drop as China Jitters Linger. Gold Muted amid Macro Events

 

CRUDE OIL TECHNICAL ANALYSIS WTI oil weekly chart shows the price climb halted ahead of 38.2% Fibo and 10-day moving average in the 47 region, although weekly upward momentum has not relented. Both WTI and Brent oil remain elevated above intraday support levels, at 41.78-43.45 for WTI, and 46.61-48.45 for Brent. Oil bulls should take caution with their stop loss.

Oil, Copper Drop as China Jitters Linger. Gold Muted amid Macro Events