Gold and Oil News (2015.08.17)
Gold spot Intraday: bullish bias above 1112.
Most Likely Scenario: Long positions above 1112 with targets @ 1121 & 1127 in extension.
Alternative scenario: Below 1112 look for further downside with 1102 & 1093.7 as targets.
Comment: A support base at 1112 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI) (U5) Intraday: capped by a negative trend line.
Most Likely Scenario: Short positions below 43 with targets @ 41.33 & 40.9 in extension.
Alternative scenario: Above 43 look for further upside with 43.85 & 44.4 as targets.
Comment: As long as 43 is resistance, likely decline to 41.33.
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