Gold and Oil News (2015.09.22)
Gold spot Intraday: break of a ST rising trendline support.
Most Likely Scenario: Short positions below 1142 with targets @ 1127 & 1124.5 in extension.
Alternative scenario: Above 1142 look for further upside with 1147 & 1150.9 as targets.
Comment: As long as 1142 is resistance, likely decline to 1127.
Crude Oil (WTI) (V5) Intraday: the bias remains bullish.
Most Likely Scenario: Long positions above 45.55 with targets @ 47 & 47.64 in extension.
Alternative scenario: Below 45.55 look for further downside with 44.24 & 43.55 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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