Gold-Oil Analysis (2016.02.29)
Gold spot Intraday: key resistance at 1232.00.
Most Likely Scenario: short positions below 1232.00 with targets @ 1211.00 & 1202.00 in extension.
Alternative scenario: above 1232.00 look for further upside with 1243.00 & 1254.00 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Most Likely Scenario: short positions below 33.80 with targets @ 32.00 & 31.05 in extension.
Alternative scenario: above 33.80 look for further upside with 34.70 & 35.60 as targets.
Comment: the RSI is bearish and calls for further downside.
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