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Gold Analysis

Gold spot Intraday: limited upside.

Pivot: 1192.4

Most Likely Scenario: Long positions above 1192.4 with targets @ 1213.1 & 1215.8 in extension.

Alternative scenario: Below 1192.4 look for further downside with 1185 & 1180 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Gold Chart

Gold chart 20155

Oil News

Crude Oil (WTI) (K5) Intraday: key resistance at 52.3.

Pivot: 52.3

Most Likely Scenario: Short positions below 52.3 with targets @ 49.8 & 48.2 in extension.

Alternative scenario: Above 52.3 look for further upside with 54.1 & 55.7 as targets.

Comment: As long as 52.3 is resistance, look for choppy price action with a bearish bias.

Oil Chart


Source: FxPro forex Broker







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