Gold and Oil Pivot Point
Gold Analysis (2015.07.27)
Most Likely Scenario: Long positions above 1086.5 with targets @ 1106 & 1119 in extension.
Alternative scenario: Below 1086.5 look for further downside with 1073 & 1064 as targets.
Comment: The RSI is mixed to bullish.
Most Likely Scenario: Short positions below 49.1 with targets @ 47.5 & 47 in extension.
Alternative scenario: Above 49.1 look for further upside with 49.6 & 50.6 as targets.
Comment: As long as 49.1 is resistance, likely decline to 47.5.
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