Daily Technical Analysis – Gold spot Intraday: capped by a negative trend line.
Most Likely Scenario: short positions below 1223.00 with targets @ 1190.00 & 1181.00 in extension.
Alternative scenario: above 1223.00 look for further upside with 1234.50 & 1242.50 as targets.
Comment: the RSI is bearish and calls for further decline.
Crude Oil (WTI) (N6) Intraday: bullish bias above 48.70.
Most Likely Scenario: long positions above 48.70 with targets @ 49.70 & 50.23 in extension.
Alternative scenario: below 48.70 look for further downside with 48.20 & 47.65 as targets.
Comment: a support base at 48.70 has formed and has allowed for a temporary stabilisation.
FxPro was founded as EuroOrient Securities & Financial Services Ltd in 2006 in Cyprus by Denis Sukhotin. FxPro began its expansion with the opening of representative offices in Austria, France Spain and Russia In 2010, FxPro was granted regulation and licensing by the UK’s Financial Conduct Authority (Financial Services Authority at that time) and opened its London office.
In 2011, the company opened an office in Australia, however it shut this down in March 2013 and moved those clients to its Cyprus and UK operations after new capital regulations came into f
orce in Australia.In 2011, FxPro started offering electronic communication network (ECN) trading access to some of its clients. In 2012, FxPro moved away from being a market maker in favour of a no dealing desk (NDD) or agency model. This means that trades are now passed straight through to liquidity providers.
Tags : Daily Technical Analysis Gold Chart Gold spot Intraday