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Gold and Oil Analysis

Gold analysis

Pivot: 1207

Most Likely Scenario: Short positions below 1207 with targets @ 1192 & 1183 in extension.

Alternative scenario: Above 1207 look for further upside with 1214 & 1223.5 as targets.

Comment: As long as 1207 is resistance, expect a return to 1192.

Gold chart

gold

 

Pivot: 53.95

Most Likely Scenario: Long positions above 53.95 with targets @ 59.3 & 60.5 in extension.

Alternative scenario: Below 53.95 look for further downside with 52.5 & 50 as targets.

Comment: The RSI is mixed to bullish.

Oil Chart

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