Gold and Oil News and Analysis

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Gold and Oil Analysis

Gold spot Intraday: under pressure.

Pivot: 1238

Most Likely Scenario: Short positions below 1238 with targets @ 1204 & 1194 in extension.

Alternative scenario: Above 1238 look for further upside with 1256 & 1267 as targets.

Comment: As long as 1238 is resistance, likely decline to 1204.

 Gold Chart

Oil Analysis

Crude Oil (NYMEX) (H5) Intraday: under pressure.

Pivot: 51.2

Most Likely Scenario: Short positions below 51.2 with targets @ 47.4 & 45.65 in extension.

Alternative scenario: Above 51.2 look for further upside with 52.55 & 54 as targets.

Comment: As long as 51.2 is resistance, likely decline to 47.4.

Oil CHART

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