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Gold and Oil Pivot Point 8 July ,2015

Source: Fxpro Forex Broker (Review and Forex Cashback)

Gold Pivot Point

Pivot: 1163

Most Likely Scenario: Short positions below 1163 with targets @ 1143.2 & 1134.6 in extension.

Alternative scenario: Above 1163 look for further upside with 1170.3 & 1175 as targets.

Comment: As long as 1163 is resistance, likely decline to 1143.2.

Gold Chart

Gold chart

Oil Pivot Point

Pivot: 53.4

Most Likely Scenario: Short positions below 53.4 with targets @ 49.87 & 48.9 in extension.

Alternative scenario: Above 53.4 look for further upside with 54.7 & 55.5 as targets.

Comment: As long as 53.4 is resistance, likely decline to 49.87.

Oil Chart

Oil today

 

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