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Gold and Oil Analysis

Pivot: 1196

Most Likely Scenario: Long positions above 1196 with targets @ 1223.5 & 1232 in extension.

Alternative scenario: Below 1196 look for further downside with 1183 & 1167 as targets.

Comment: The RSI is well directed.

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Oil news and Analysis

Pivot: 56

Most Likely Scenario: Long positions above 56 with targets @ 59.3 & 60.5 in extension.

Alternative scenario: Below 56 look for further downside with 55 & 53.94 as targets.

Comment: The RSI is mixed to bullish.

 

oil chart

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