Gold and Oil Pivot Point 2015.07.29

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Gold News

Pivot: 1106

Most Likely Scenario: Short positions below 1106 with targets @ 1086.5 & 1077 in extension.

Alternative scenario: Above 1106 look for further upside with 1119 & 1129.4 as targets.

Comment: As long as 1106 is resistance, likely decline to 1086.5.

Gold Chart

Oil Pivot Point

Pivot: 46.65

Most Likely Scenario: Long positions above 46.65 with targets @ 48 & 48.45 in extension.

Alternative scenario: Below 46.65 look for further downside with 45.95 & 45.5 as targets.

Comment: A support base at 46.65 has formed and has allowed for a temporary stabilisation.

Oil Chart

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